Suppose you plan to retire on your 65th birthday and wish to begin withdrawing from your retirement
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Suppose you plan to retire on your 65th birthday and wish to begin withdrawing from your retirement savings beginning with your 66th birthday. And suppose that your savings earn 2% per year. If you intend on living a long life, requiring $20,000 per year through your 85th birthday, how much would you have to deposit as a lump sum on your 25th birthday to enable you to meet your retirement income goal?
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Related Book For
Foundations And Applications Of The Time Value Of Money
ISBN: 9780470407363
1st Edition
Authors: Pamela Peterson Drake, Frank J. Fabozzi
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