2. a. Jake is 10 years from retirement. He has decided that in order to be comfortable and be able to travel, he needs to have an income of $8000 per month. How much does he need to have in his retirement that earns 8% per year compounded monthly, in order to withdraw SB000 per month for 30 years?

2. a. Jake is 10 years from retirement. He has decided that in order to be comfortable and be able to travel, he needs to have an income of $8000 per month. How much does he need to have in his retirement that earns 8% per year compounded monthly, in order to withdraw SB000 per month for 30 years?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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2. a. Jake is 10 years from retirement. He has decided that in order to be comfortable and
be able to travel, he needs to have an income of $8000 per month. How much does he
need ta have in his retirement that earns 8% per year compounded monthly, in order to
withdraw S8000 per month for 30 years?

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