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You plan to retire in exactly 20 years. Your goal is to create a fund that will allow you to receive $25,000 at the end
You plan to retire in exactly 20 years. Your goal is to create a fund that will allow you to receive $25,000 at the end of each year for 30 years after you retire. (So you will receive your first payment in 21 years). You know that you will earn 10% (compounded annually) for the rest of your life. You want to make 20 end-of year deposits into your retirement account that will fund the 30-year stream of $25,000 annual annuity payments. How large do your annual deposits have to be? $4114.76 $4312.78 $4213.97 $4298.96 $3291.81
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