You will make equal deposits into your retirement account each year for 10 years starting now (i.e.,

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You will make equal deposits into your retirement account each year for 10 years starting now (i.e., years 0–9). If you expect to withdraw $50,000 per year forever beginning 30 years from now, and the funds will earn interest at 10% per year, the size of the 10 deposits is nearest:

(a) $4239

(b) $4662

(c) $4974

(d) $5471

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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