How much must you deposit each year into your retirement account starting now and continuing through year 10 if you want to be able to withdraw $85,000 per year forever, beginning 30 years from now? Assume the account earns interest at 10% per year. The amount to be deposited is determined to be $ 20,562.41

How much must you deposit each year into your retirement account starting now and continuing through year 10 if you want to be able to withdraw $85,000 per year forever, beginning 30 years from now? Assume the account earns interest at 10% per year. The amount to be deposited is determined to be $ 20,562.41

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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