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can someone please answer this question, thank you! (4. Du want to retire at the age of 70 and you know the average life expectancy
can someone please answer this question, thank you!
(4. Du want to retire at the age of 70 and you know the average life expectancy is 95 years. Post retir = ant you want to make USD 3,200 per monf from an account compounding monthly at 4.5% (may) rate). You a 1 - planning to deposit USD 1,000 in an account at the end of each quarter starting from your 27 birthday. The account gives a return of 8.5% end is compounded quarterly. a) Will you have enough money in your acco pint at the age of 70 to earn USD 3200 per month from the annuity contract as described abbive? b) How much amount is above or below the ;equired amount in your account at the age of 70Step by Step Solution
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