Question
In 26 years you want to have a monthly payment from your retirement account that pays $14,943.64 for 18 years. You currently earn a weekly
In 26 years you want to have a monthly payment from your retirement account that pays $14,943.64 for 18 years. You currently earn a weekly salary of $1,532.65 that you expect to grow at a rate of 4.3% per year currently you are depositing 27.6% of your salary into your retirement account. What would the effective annual rate be on the retirement account in order for you to reach your goal?
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Financial Liberalization And Macroeconomic Stability
Authors: Torben M. Andersen, Karl-Ove Moene
1st Edition
0631203490, 978-0631203490
