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Lump Sum Required |
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Lump Sum Required |
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Lump Sum Required
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Lump Sum Required |
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Lump Sum Required |
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What is the lump sum deposit required today for an account to grow to $1,000,000 in 25 years, growing at 7% with no additional deposits.
Use the following values for the prompts:
Prompt |
Value |
|
Type of Fund |
Future Value |
|
Current Account Value |
Do not enter value |
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Type of Deposits |
Level Deposits |
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# of Deposits/Year |
1 |
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Amount of Each Deposit |
0 |
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Deposits Made at |
End of Period |
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Interest Rate |
7 |
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# of Years |
25 |
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Future Value |
1000000 |
Place the cursor on the Current Account Value prompt and click on the 'Calculate Cursor Line' button.
The current account balance is 184,249.18
If the interest rate was 8%, how much would the lump sum deposit be?
Enter '8' for the rate of return and press tab.
The present value re-calculates to $146,017.88
What is the lump sum deposit required today if the client were to deposit $250 per month, increasing by 3% per year?
Change the following prompts to the values shown:
Prompt Type of Deposits |
Value Annual Increase by a % |
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# of Deposits/Year |
12 |
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Amount of Each Deposit |
250 |
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Annual Increase in Deposit |
3 |
The lump sum deposit recalculates to $102,577.01