In order to obtain $500,000 in retirement, how much do I need to save every year for 30 years at 6% interest?

How can you do this on a Financial Calculator – n i pv pmt fv?

If by this you mean you want to have a $500,000 nest egg 30 years from now, then the answers are:

n=30
i = 0.06
fv=500000
pmt = solve for this.
This will tell you how much to save per year.
If the questions asks how much per month, then the entries are different
n=360 (or 30 x 12)
i = 0.005 (or 6% divided by 12)
fv = 500000
pmt = a monthly amount.

The monthly payment when multiplied by 12 will be lower than the annual payment because the more frequent payments will give interest compounding more time to work.

Enjoy life and save for retirement

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