Question
If Catherine plans to withdraw P500,000 in the year 2024, a year after her retirement, and then increase the withdrawal by P25000 per year until
If Catherine plans to withdraw P500,000 in the year 2024, a year after her retirement, and then increase the withdrawal by P25000 per year until 2048, how much does she need to have in her savings account in the year 2023, her retirement year? The bank pays 6.5% per year.
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Investments
Authors: William F. Sharpe, Gordon J. Alexander, Jeffery V. Bailey
6th Edition
8120321014, 978-8120321014
