Question
You are planning for your pension plan that you will start to invest money, deposit first saving a year from today, deposit last at 20,
You are planning for your pension plan that you will start to invest money, deposit first saving a year from today, deposit last at 20, and get retired after 20 years. You desire to take an immediate trip, costing approximately 15000 TL.(t=20) when you retire, and expect to live 25 more years, for which you need 12000TL each year, starting from one year from retirement. Your savings will be equal and on annual basis. Savings will earn 10% annually. a) How much you should save each year to accomplish your goals? b) What would be the equal savings if pension plan requires semiannual deposits? You still earn 10% annually
3 You are planning for your pension plan that you will start to invest money, deposit first saing a year fom today, deposit last at 20, and get retired after 20 years. You desine to rake an inumediate irip, costing approsimalely 15000 TL.(0-20) when you retire, and expect t lie 25 more vears, for which you need 12000)TL each year, starting from one year from retirement. Your har ings will be equal and on annual basis. Savings will earn 10% annually. a How much you should save each year to accomplish your goals? b What would be the equal savings if pension plan requires semiannual deposits? You sill u 10% annuallyStep by Step Solution
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