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can you please help me understand this question? You would like to retire in 40 years and withdraw $75,000 per month for 25 years afterward.
can you please help me understand this question?
- You would like to retire in 40 years and withdraw $75,000 per month for 25 years afterward. You plan to invest $1,200 per month until retiring. If you expect to earn 6% after retiring, what annual rate will you need to earn until retiring to reach your goal?
- A.11.89%
- B.13.90%
- C.8.77%
- D.11.39%
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Personal Finance An Integrated Planning Approach
Authors: Ralph R Frasca
8th edition
136063039, 978-0136063032
