Question
Trying to solve a problem Withdrawals per year =$50,000 Number of years -25 Amount required at the end of 20 years will be equal to
Trying to solve a problem
Withdrawals per year =$50,000
Number of years -25
Amount required at the end of 20 years will be equal to the present value of all future withdrawls.
i.e. Amount = $50,000*PVAF(11%,25years)
= $50,000*8.422
= 421,100
Where or how do they get to 8.422. To multiply by the $50,000 I just can't figure that out?
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Financial Markets And Institutions
Authors: Jeff Madura
6th Edition
0324162618, 978-0324162615
