2. You would like to retire on $15,000 per month with the first retirement check coming at the end of your first month of retirement. You expect to live for 30 years after retirement. If your investment account earns 9%, how much must you have in the account on the day you retire to fund this retirement? a. b. C. d. e. O $5,400,000 $407,004 $2,000,000 $1,864,228 $1,878,210
2. You would like to retire on $15,000 per month with the first retirement check coming at the end of your first month of retirement. You expect to live for 30 years after retirement. If your investment account earns 9%, how much must you have in the account on the day you retire to fund this retirement? a. b. C. d. e. O $5,400,000 $407,004 $2,000,000 $1,864,228 $1,878,210
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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A 78.
Subject:- finance
Transcribed Image Text:2. You would like to retire on $15,000 per month with the first retirement check coming at the end of
your first month of retirement. You expect to live for 30 years after retirement. If your investment
account earns 9%, how much must you have in the account on the day you retire to fund this
retirement?
a.
b.
C.
d.
e.
$5,400,000
$407,004
$2,000,000
$1,864,228
$1,878,210
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