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A young engineer wants to invest an equal amount at the end of each year from age 26 to 60 (35 years) such that starting
A young engineer wants to invest an equal amount at the end of each year from age 26 to 60 (35 years) such that starting at age 66 he can make a guaranteed annual withdrawal of $120,000 forever without touching the corpus (principal). He will make no deposits during the years of age 61 through 66. Assume an interest rate of 10% per year for all the years, what amount must be invested each year from age 26 through 60?
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