Question
Mandeep Kaur is currently 22 years old and wants to retire by the age of 50 and has set a target of 1,500,000 as the
Mandeep Kaur is currently 22 years old and wants to retire by the age of 50 and has set a target of 1,500,000 as the future value of cash in her bank account when she intends to retire comfortably. Market interest is fluctuating but on Average, the interest will be 1.6% throughout her working life.
1. What will be her yearly payments if She puts them aside at the end of each year?
2. What will be her yearly payments if She puts them aside at the beginning of each year?
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
