You believe you will spend $40,000 per year for 20 years once you retire in 40 years.

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You believe you will spend $40,000 per year for 20 years once you retire in 40 years. If the interest rate is 5% per year, how much must you save each year until retirement to meet your retirement goal?

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Fundamentals of Corporate Finance

ISBN: 978-1259024962

6th Canadian edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim

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Question Posted: Nov 14, 2017 02:14 AM

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You believe you will spend $40,000 per year for 20 years once you retire in 40 years.

Question:

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By the time you retire you will need 40000 future value annuity fa...View the full answer

Fundamentals of Corporate Finance

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