Question
You are planning to retire in twenty years. You'll live ten years after retirement. You want to be able to draw out of your savings
You are planning to retire in twenty years. You'll live ten years after retirement. You want
to be able to draw out of your savings at the rate of $10,000 per year. How much would
you have to pay in equal annual deposits until retirement to meet your objectives?
Assume interest remains at 9%.
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Entrepreneurial Financial Management An Applied Approach
Authors: Jeffrey R Cornwall, David O Vang, Jean M Hartman
5th Edition
0367335417, 978-0367335410
