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John is 28 years old and plans to retire at 67. He wants to have a fund at 67 that will let him perpetually spend
John is 28 years old and plans to retire at 67. He wants to have a fund at 67 that will let him perpetually spend $4,500 a month after retirement. Assume a continuous money flow. Answer the following. Round your answers (at the last step) to Integers. (a) Suppose that after his retirement John puts the money In a fund paying Interest at an annual rate of 4.2%, compounded continuously. Then John will need $ for his retirement. (b) Suppose that John starts to invest a fixed amount each month from now until he retires, in a fund that pays interest at an annual rate of 6.2%, compounded continuously. Then he should invest $ each month
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