Barry Cuda has estimated that he will live for 25 years after he retires at age...
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Barry Cuda has estimated that he will live for 25 years after he retires at age 67. He would like to be able to withdraw $85,000 annually from his retirement account for those 25 years assuming his account during retirement earns 4% annual interest. If Barry has 30 years until he retires, how much will he need to save annually at 9% to reach his goal? Barry Cuda has estimated that he will live for 25 years after he retires at age 67. He would like to be able to withdraw $85,000 annually from his retirement account for those 25 years assuming his account during retirement earns 4% annual interest. If Barry has 30 years until he retires, how much will he need to save annually at 9% to reach his goal?
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To calculate the amount that Barry needs to save annually we can use the present va... View the full answer
Related Book For
Fundamentals of Financial Management
ISBN: 978-0324664553
Concise 6th Edition
Authors: Eugene F. Brigham, Joel F. Houston
Posted Date:
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