Question

You need to have $50,000 in 10 years. You have the ability to deposit money into an account that pays 5% compounded annually today. How much should you deposit in order to have the $50,000 in 10 years?

Answer 1

deposit one time today? or monthly? if deposit today $30,695.66 @ 5% compounded interest annually would give you exactly $50k in 10 years