Question
You wish to retire in 11 years, at which time you want to have accumulated enough money to receive an annual annuity of $26,000 for
You wish to retire in 11 years, at which time you want to have accumulated enough money to receive an annual annuity of $26,000 for 16 years after retirement. During the period before retirement you can earn 12 percent annually, while after retirement you can earn 14 percent on your money. What annual contributions to the retirement fund will allow you to receive the $26,000 annuity? calculate your final answer using the formula and financial calculator method
Annual Contribution _____
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After retirement 14000 for 16 years Rate of interes...
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
