Assume you are now 2 1 years old and will start working as soon as you graduate
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Assume you are now years old and will start working as soon as you graduate from college. You plan to start saving for your retirement on your th birthday and retire on your th birthday. After retirement, you expect to live at least until you are You wish to be able to withdraw $in todays dollars every year from the time of your retirement until you are years old ie for years The average inflation rate is likely to be percent.
alculate the lump sum you need to have accumulated at age to be able to draw the desired income. Assume that the annual return on your investments is likely to be percent. Round answer to decimal places, eg Round intermediate value to decimal places, eg Do not round factor values.
Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
Posted Date: