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You begin saving for your retirement by depositing $ 5 , 0 0 0 per year as ordinary annuity into a fund over the next
You begin saving for your retirement by depositing $ per year as ordinary annuity into a fund over the next years payments in total Assume you leave your funds in this mutual fund throughout your lifetime and it earns per year. Once you retire you expect to live for an additional years. In retirement you would like to receive an annual annuity due for each these years.
What payment can you withdrawal every year for your years of retirement? Assume your money is left in the mutual fund earning per year after you retire.
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