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3. How much must you pay into the investment each year for the first ten years? (Hint: Your answer from Requirement 1 becomes the future
3. How much must you pay into the investment each year for the first
ten
years?
(Hint:
Your answer from Requirement 1 becomes the future value of this annuity.) (Round your answer to the nearest whole dollar.)
For the first ten years, the amount you must pay into the investment each year is |
1. How much money must you accumulate by retirement? (Hint. Find the present value of the $220,000 withdrawals.) Calculate the present value to find out how much money must be accumulated by retirement. (Round your answer to the nearest whole dollar.) The present value is 2. How does this amount compare to the total amount you will draw out of the investment during retirement? How can these numbers be so different? Over the course of your retirement you will be withdrawing However, by age 40 you only need to have invested These numbers are different because: A. You need to have the same accumulated as you will withdraw because you will not earn further interest on your investment when you reach retirement. D. None of the above. For the first ten years, the amount you must pay into the investment each year is Reference Reference Reference Reference
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