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answer based on question 3. it is just one question. will rate the answer (3) Wade has completed a retirement needs analysis and determined that
answer based on question 3. it is just one question. will rate the answer
(3) Wade has completed a retirement needs analysis and determined that he needs to have $2.5 million accumulated in his ROTH IRA account at age 70 to live comfortably in retirement. Wade expects to live to age 100. Wade's ROTH IRA account is expected to earn 6% annually into perpetuity. Assuming no inflation and no other sources of retirement income, how much can Wade take out of his. ROTH IRA account annually at the beginning of each year and still have $1 million remaining at death to' leave to his heirs? ENDorBGNMode=BGNMODEPV=2500000N=30i=6%PMT=159408.84FV=1000000 (4) Discuss one modification you could make to Question 3 yourself to determine if your final answer is' directionally correct and/or reasonable? (Hint: what did I say to do if you cannot remember whether the FV should be entered as a + or -?) Make the necessary modification to the problem yourself, compute a new final answer, and then compare that new final answer to your answer from Question 3 and discuss whether your answer to Question 3 now makes sense (or doesn't make sense) relative to Question 4. Note: I am looking for a very specific modification similar to what I did in the sample exercises posted to canvas; however, other variations may be acceptable for credit if well-supported in your explanation. END or BGN Mode = BGN MODE PV= N=1 PMT= FV= Explanation Step by Step Solution
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