Answer:
You will need a financial calculator or you can use Microsoft Excel
where
A= 1,240,000 is the present value PV
r= 8% or I/Y (Interest Yield)
t= 30 years or the number of periods assuming this is an annual rate
PMT or payment = 0 (meaning you won’t get paid anything until 30 years from now
FV = 12,477,694.54
which is your solution
Step-by-step explanation:
