Question
You wish to retire in 35 years' time and draw an annual income of $30,000 at the end of each year for a period of
You wish to retire in 35 years' time and draw an annual income of $30,000 at the end of each year for a period of 30 years. How much money will you need to invest now (to the nearest dollar) if you can earn 8% on your investments.
A. $337,734
B. $111,750
C. $26,521
D. $22,842
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International financial management
Authors: Jeff Madura
12th edition
1133947832, 978-1305195011, 978-1133947837
