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 a9% return on investment

PLEASE EXPLAIN THE STEPS TO SOLVING THIS PROBLEM THOROUGHLY AND CLARIFY EVERY STEP. I ALREADY KNOW THE ANSWER TO THIS PROBLEM, BUT I AM STRUGGLING WITH UNDERSTANDING THE PROCESS OF SOLVING IT. I WILL DISLIKE YOUR ANSWER IF YOU DO NOT EXPLAIN YOUR STEPS CLEARLY