Question
You have estimated that in the future you will need: -50 000 EUR when you are 40 to help your daughter buy her first house
You have estimated that in the future you will need:
-50 000 EUR when you are 40 to help your daughter buy her first house
-25 000 EUR per year for 20 years, additional to your retirement money, with the first payment on your 60th birthday and the last on your 79th birthday
On your 25th birthday, you open a savings account that gives 9% interest rate per year. You want to deposit the same account every year on your birthday starting with the first deposit today (on your 25th birthday) and the last deposit on your 40th birthday. According to your estimations, how much should your annual deposits be?
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Money How The Destruction Of The Dollar Threatens The Global Economy And What We Can Do About It
Authors: Steve Forbes, Elizabeth Ames
1st Edition
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