Question
You estimate you'll need $200,000 per year for 25 years starting on your 65th birthday to live on during your retirement. Today is your 50th
You estimate you'll need $200,000 per year for 25 years starting on your 65th birthday to live on during your retirement. Today is your 50th birthday and you want to make equal deposits into an account paying 9% interest per year, the first deposit today and the last deposit on your 64th birthday.
How much must each deposit be (rounded to the nearest $10)?How do I do this in a financial calculator. I know how to do it with the equations but trying to get it done quicker with calculator?
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The total amount of money needed for retirement is 200000 per year for 25 years To calculate the amount of each deposit we can use the present value P...
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Engineering Economy
Authors: Leland T. Blank, Anthony Tarquin
8th edition
73523439, 73523437, 978-0073523439
