Question: Janet wants to take the next five years off work

Janet wants to take the next five years off work to travel around the world. She estimates her annual cash needs at $30,000 (if she needs more, she’ll work odd jobs). Janet believes she can invest her savings at 8% until she depletes her funds.
Requirements
1. How much money does Janet need now to fund her travels?
2. After speaking with a couple of banks, Janet learns she’ll only be able to invest her funds at 6%. How much does she need now to fund her travels?

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  • CreatedApril 30, 2015
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