Question Number 41508 by psyche-ace last updated on 08/Aug/18
$${A}\:\boldsymbol{\mathrm{facial}}\:\boldsymbol{\mathrm{surgery}}\:\boldsymbol{\mathrm{is}}\:\boldsymbol{\mathrm{estimated}}\:\boldsymbol{\mathrm{to}}\:\boldsymbol{\mathrm{cost}}\:\boldsymbol{\mathrm{N}}\mathrm{25}\boldsymbol{\mathrm{millon}}\:\boldsymbol{\mathrm{in}}\:\mathrm{10}\:\boldsymbol{\mathrm{years}}\:\boldsymbol{\mathrm{time}}.\: \\ $$$$\mathrm{A}\:\mathrm{50}\:\boldsymbol{\mathrm{years}}\:\boldsymbol{\mathrm{old}}\:\boldsymbol{\mathrm{woman}}\:\boldsymbol{\mathrm{that}}\:\boldsymbol{\mathrm{is}}\:\boldsymbol{\mathrm{expecting}}\:\boldsymbol{\mathrm{to}}\:\boldsymbol{\mathrm{go}}\:\boldsymbol{\mathrm{on}}\:\boldsymbol{\mathrm{retirement}}\:\boldsymbol{\mathrm{at}}\:\mathrm{55}\boldsymbol{\mathrm{years}}\:\boldsymbol{\mathrm{is}}\:\boldsymbol{\mathrm{planning}}\:\boldsymbol{\mathrm{to}}\:\boldsymbol{\mathrm{generate}}\:\boldsymbol{\mathrm{funds}}\:\boldsymbol{\mathrm{for}}\:\boldsymbol{\mathrm{the}}\:\boldsymbol{\mathrm{surgery}}\:\boldsymbol{\mathrm{at}}\:\boldsymbol{\mathrm{her}}\:\boldsymbol{\mathrm{retirement}}. \\ $$$$\boldsymbol{\mathrm{ow}}\:\boldsymbol{\mathrm{much}}\:\boldsymbol{\mathrm{should}}\:\boldsymbol{\mathrm{she}}\:\boldsymbol{\mathrm{set}}\:\boldsymbol{\mathrm{aside}}\:\boldsymbol{\mathrm{for}}\:\boldsymbol{\mathrm{the}}\:\boldsymbol{\mathrm{surgery}}\:\boldsymbol{\mathrm{if}}\:\boldsymbol{\mathrm{the}}\:\boldsymbol{\mathrm{interest}}\:\boldsymbol{\mathrm{rate}}\:\boldsymbol{\mathrm{is}}\:\mathrm{14}.\mathrm{75\%}\:\boldsymbol{\mathrm{at}}\:\boldsymbol{\mathrm{the}}\:\boldsymbol{\mathrm{time}}\:\boldsymbol{\mathrm{of}}\:\boldsymbol{\mathrm{retirement}}?\: \\ $$$$\boldsymbol{\mathrm{what}}\:\boldsymbol{\mathrm{is}}\:\boldsymbol{\mathrm{the}}\:\boldsymbol{\mathrm{present}}\:\boldsymbol{\mathrm{value}}\:\boldsymbol{\mathrm{of}}\:\boldsymbol{\mathrm{the}}\:\boldsymbol{\mathrm{cost}}\:\boldsymbol{\mathrm{of}}\:\boldsymbol{\mathrm{surgery}}?\left(\boldsymbol{\mathrm{as}}\:\boldsymbol{\mathrm{at}}\:\boldsymbol{\mathrm{the}}\:\boldsymbol{\mathrm{time}}\:\boldsymbol{\mathrm{the}}\:\boldsymbol{\mathrm{woman}}\:\boldsymbol{\mathrm{is}}\:\mathrm{50}\boldsymbol{\mathrm{years}}\:\boldsymbol{\mathrm{given}}\:\boldsymbol{\mathrm{the}}\:\boldsymbol{\mathrm{interest}}\:\boldsymbol{\mathrm{rate}}\:\boldsymbol{\mathrm{at}}\:\boldsymbol{\mathrm{that}}\:\boldsymbol{\mathrm{time}}\:\boldsymbol{\mathrm{is}}\:\mathrm{11}.\mathrm{5\%}\right) \\ $$