Assume a world without inflation. Janice Lewis berg, 38, plans to retire at age 68. Her life
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Assume a world without inflation. Janice Lewis berg, 38, plans to retire at age 68. Her life expectancy is age 90. She wants to live a retirement lifestyle that will cost $35,000 per year, payable at the beginning of each year. She now has $20,000 in her investment account and plans to invest an equal amount annually for her retirement. The rate of interest that she expects to earn is 6%
A) if she dies at the age of 85, how much will she leave for her estate?
Related Book For
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
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