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on excel Youre 55 years old today, and you wish to start saving for your pension. Here are the parameters: You intend to make a
on excel
Youre 55 years old today, and you wish to start saving for your pension. Here are the parameters:
You intend to make a deposit today and at the beginning of each of the next 9 years (that is, on your 55th, 56th, ..., 64thbirthdays);
Starting from your 65th birthday until your 84th, you would like to withdraw $50,000 per year (no plans for after that);
The interest rate is 12%.
How much should you deposit in each of the initial years in order to fully fund the withdrawals?
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