- This topic has 1 reply, 2 voices, and was last updated Feb-204:41 pm by
.
-
Posts
-
-
Up3
My understanding is that it should be:
PV = $120,000 (money PUT IN account)
PMT = $8,000 (money GOING IN account)
N = 30 (number of years)
FV = -$1,500,000 (money COMING OUT of account at the end, or a final ‘payment’)Alternatively, you could view it this way:
PV = -$120,000 (money LEAVING PERSON to go into RRSP)
PMT = -$8,000 (money LEAVING PERSON to go into RRSP)
N = 30 (number of years)
FV = $1,500,000 (money RETURNING TO PERSON from RRSP)
-
Viewing 0 reply threads
- You must be logged in to reply to this topic.