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Marcy Johnson is planning for her golden years. The details of her retirement plans follow: Time until retirement (in years) 13 Expected life span after
Marcy Johnson is planning for her golden years. The details of her retirement plans follow:
Time until retirement (in years) 13
Expected life span after retirement (in years) 31
Annual planned withdrawal from retirement fun (at the beginning of the year) $ 69,000.00
Retirement savings already accumulated $ 19,000.00
Expected annual interest rate before retirement 10%
Expected annual interest rate after retirement 8%
How much does Marcy need to contribute to her retirement fund at the end of each year in order to fund her retirement?
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