You plan on retiring in 15 years. You need $4,000 per month to live after you retire. You have average life expentency of 15 years after your retirement. How much you need to be saving every month for next 14 years. Suppose the rate of return on the retirement account is 8%.

Answer rating: 100% (QA)

To determine how much you need to be saving every month for the next 14 years in order to have 4000 ... View the full answer