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(Retirement Planning OR PENSION PLANNING ) Now you are 22 years old, and want to retire at the age of 65. You would like to
(Retirement Planning OR PENSION PLANNING )
Now you are 22 years old, and want to retire at the age of 65. You would like to have $70,000 semiannual payments until you are 103 years old. You inherited (gift) $60,000 at the age of 38 and $10,000 at the age of 48. Please calculate how much you have to save biweekly to receive $70,000 semiannually by the two following ways: USE (R = 8.5%) A) Biweekly payment without gift B) Biweekly payment with gift
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