Question
You plan on saving $10,000 a year (as a regular annuity) for the next 30 years. You will then make equal withdrawals for each of
You plan on saving $10,000 a year (as a regular annuity) for the next 30 years. You will then make equal withdrawals for each of the next 25 years (also a regular annuity). If the interest rate is 10% over the first 30 years but only 8% for the remaining 25 years, what will be the amount of each withdrawal?
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The Concepts And Practice Of Mathematical Finance
Authors: Mark S. Joshi
1st Edition
0521823552, 9780521823555
