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If Derek plans to deposit $11,228.00 into his retirement account on each birthday beginning with his 26th and the account earns 4.00%, how long will
If Derek plans to deposit $11,228.00 into his retirement account on each birthday beginning with his 26th and the account earns 4.00%, how long will it take him to accumulate $2,552,984.00?
Derek decides that he needs $130,942.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $130942.0 on each birthday from his 66th to his 90.00th. How much will he need in his retirement account on his 65th birthday? Assume a interest rate of 6.00%.
Pls help me get the answers.
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