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Today is MrSams 55 th Birthday. He plans to save a fixed amount of money every year starting from his 56 th birthday up to
Today is MrSams 55thBirthday. He plans to save a fixed amount of money every year starting from his 56thbirthday up to and including 65thbirthday. Then he will start drawing 10000 a year starting from his 66thbirthday up to and including 80thbirth day. If the market interest rate is fixed at 10%, how much will he need to save each year? (Rounded to nearest dollar)
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