How much does ken need to invest today at 6% p.a monthly compound interest, so he will have 450000 after 30yrs

PLEASE SHOW THE WORKING OUT! thanks :)

Principle = P = ?

A = $ 450000

time = t = 30 [since compounded monthly , time = 12*30 = 360)

rate = 6 % pa compounded monthly = 0.5% p m

A = P (1+r/100)^t

450000 = P (1+0.5/100)^360

= P (1.005)^360

P = 450000 / (1.005)^360

= 74 718.8676

= 74719 [rounded off to nearest dollar]

A = P(1+R)^n
450000 = P(1+0.06/12)^30
450000 / (1.005)^30 = P
P = $387463.3786
= $387463.38

Therefore Ken needs to invest $387463.38.

If you want to check, substitute it back into the formula.
A = $387463.38 (1+0.005)^30
= $450000.0017 =
$450000 approximately. There you go. And that is the way how you do it.

Before or after taxes?

i cannot get the answer

who knows?