Suppose you are 25 years old and would like to retire at age 65, having accumulated...

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Suppose you are 25 years old and would like to retire at age 65, having accumulated a retirement fund from which you could draw an income of $200,000 per year-forever! How much would you need to deposit each month to do this? Assume a constant APR of 6%. Suppose you are 25 years old and would like to retire at age 65, having accumulated a retirement fund from which you could draw an income of $200,000 per year-forever! How much would you need to deposit each month to do this? Assume a constant APR of 6%.

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To calculate the monthly deposit needed to accumulate a retirement fund that can provide a 200000 pe... View the full answer