The BB on page 436 has a human need calculation- they are solving for 1362203 as FV need for income. I do not get this calculation-can anyone help me ?
Thanks
That’s the present value, not the future value.
I am still not getting that- in the beg mode and N=20, i = 1.94, PMT 812550, i am not getting 1362207.
also, why do we put discount rate in the denominator and growth rate in nominator?
bump