Question
On 1/1/03 you decide that you wish to begin saving for your retirement, which will begin on your 65th birthday. Starting on your 25th birthday
On 1/1/03 you decide that you wish to begin saving for your retirement, which will begin on your 65th birthday. Starting on your 25th birthday you wish to make 40 equal annual deposits into a fund that will earn 10% per year. Assuming that you wish to make 20 annualwithdrawls of 50,000 starting on your 65th, how much must you save each year between age 25 and 64 to make this happen?
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Finance For Executives Managing For Value Creation
Authors: Gabriel Hawawini, Claude Viallet
7th Edition
1473778913, 978-1473778917
