How much must you deposit each year into your retirement account starting now and continuing through year

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How much must you deposit each year into your retirement account starting now and continuing through year 9, if you want to be able to withdraw $80,000 per year forever, beginning 30 years from now? Assume the account earns interest at

(a) The generous rate of 10% per year,

(b) A more conservative rate of 4% per year. Compare the two amounts.

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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Question Posted: Dec 24, 2018 09:23 AM

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How much must you deposit each year into your retirement account starting now and continuing through year

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Find P in year 29 using PFi20 to move back to year 9 and t...View the full answer

Engineering Economy

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