You are 20 years old and plan to retire when you turn 50. Starting at the end of 51 years of age, you need $200,000 per year for what you think is the next 50 years in retirement. Assume you can earn 9% interest over the investment period. Further assume you wish to 'set it and forget it.' That is not add nor subtract from this one-time disbursement.
Please calculate your answer to the nearest 2 decimal places. Format 0000.00. No commas.
Find the initial amount you need to invest now, EOY 0.