Question
After retirement, you expect to live for 25 years. You would like to have $76,000 income each year. How much should you have saved in
After retirement, you expect to live for 25 years. You would like to have $76,000 income each year. How much should you have saved in your retirement account to receive this income, if the annual interest rate is 9% per year? (Assume that the payments start on the day of your retirement.)
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Corporate Financial Management
Authors: Julian Ralph Franks, Harry H. Scholefield
2nd Edition
0566020548, 978-0566020544
