An Engineer plans to retire on the day he turns 60-year old. To address his retirement, he wants to set aside the same amount of funds each year for the next 20 years starting next year- so that he will be able to withdraw $79,849 per year for 23 years once he retires, with the 1^st withdrawal on his 61^st birthday. The Engineer is 30 years old today. How much must he set aside each year for his retirement if he can earn 19% on his funds?

Question 2 20 points Save Answer An Engineer plans to retire on the day he turns 60-year old. To address his retirement, he wants to set aside the same amount of funds each year for the next 20 years - starting next year- so that he will be able to withdraw $79,849 per year for 23 years once he retires, with the 1st withdrawal on his 61st birthday. The Engineer is 30 years old today. How much must he set aside each year for his retirement if he can earn 19% on his funds