Question
1a. Larry wants to start an IRA that will have $1,000,000 in it when he retires in 25 years. Assume that money earns an annual
1a. Larry wants to start an IRA that will have $1,000,000 in it when he retires in 25 years.
Assume that money earns an annual rate of 4% compounded quarterly.
How much should he invest quarterly in his IRA to have $1,000,000 at the end of 25 year?
1b.
Larry has an IRA that has $1,000,000 in it when he retires.
Assume that money earns an annual rate of 4% compounded quarterly for all questions.
AFTER RETIREMENT - What is the minimum quarterly withdrawal each quarter over the NEXT 25 years so that the balance is zero on his last withdrawal?
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Health Care Finance And The Mechanics Of Insurance And Reimbursement
Authors: Michael K. Harrington
2nd Edition
1284169030, 978-1284169034
