Suppose you wish to retire 30 years from today .You have determined that you would need $75,000 annually once you retire, which you will withdraw at the end of each year. You estimate that you will earn 6% on your retirement funds, compounded annually, and that you will live for 20 years after retirement. how much funds would you need on retirement to fullfill your goals above.?
Suppose you wish to retire 30 years from today .You have determined that you would need $75,000 annually once you retire, which you will withdraw at the end of each year. You estimate that you will earn 6% on your retirement funds, compounded annually, and that you will live for 20 years after retirement. how much funds would you need on retirement to fullfill your goals above.?
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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Suppose you wish to retire 30 years from today .You have determined that you would need $75,000 annually once you retire, which you will withdraw at the end of each year. You estimate that you will earn 6% on your retirement funds, compounded annually, and that you will live for 20 years after retirement. how much funds would you need on retirement to fullfill your goals above.?
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