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You want to retire in 30 years from today, and make 20 withdrawals during your retirement life. Each withdrawal is set to be $90,000. You

You want to retire in 30 years from today, and make 20 withdrawals during your retirement life. Each withdrawal is set to be $90,000. You adviser suggests using 8% interest rate for your calculation. If you just inherited a large sum of money and want to make one lump sum deposit today to cover your retirement needs. What amount do you need to deposit today?

Question 6 options:

87,813

There is not enough information to calculate the amount that you have to deposit in the scenario described.

873,633

86,813

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