Mechanical Engineer John Cena is planning for retirement decides that he wishes to have income of Php 200,000 per year for 20 years with the first withdrawal starting 30 years from now. If her retirement account earns activity at 8% per year, determine the annual amount he would need to deposit for 29 years beginning 2 years now.
Mechanical Engineer John Cena is planning for retirement decides that he wishes to have income of Php 200,000 per year for 20 years with the first withdrawal starting 30 years from now. If her retirement account earns activity at 8% per year, determine the annual amount he would need to deposit for 29 years beginning 2 years now.
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
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Transcribed Image Text:Mechanical Engineer John Cena is planning for retirement decides that he wishes to have
income of Php 200,000 per year for 20 years with the first withdrawal starting 30 years from now.
If her retirement account earns activity at 8% per year, determine the annual amount he would
need to deposit for 29 years beginning 2 years now.
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