Question
Your uncle has $1,135,000 and wants to retire. He expects to live for another 40 years and to earn 7.5% on his invested funds .
Your uncle has $1,135,000 and wants to retire. He expects to live for another 40 years and to earn 7.5% on his invested funds. How much could he withdraw at the end of each of the next 30 years and end up with zero in the account? 1. $101,821.61 2. $120,149.50 3. $96,101.85 4. $98,766.96 5. $90,119.36
However, the correct answer is NOT $96,101.85.
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Sports Finance And Management Real Estate Media And The New Business Of Sport
Authors: Jason A. Winfree, Mark S. Rosentraub, Brian M Mills, Mackenzie Zondlak
2nd Edition
1138341819, 9781138341814
