Vanessa plans on retiring in 25 years. One year after retiring, she plans on withdrawing $200,000 from
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Vanessa plans on retiring in 25 years. One year after retiring, she plans on withdrawing $200,000 from her savings account and wishes to make 30 annual with drawls of 200,000 in total during her retirement. Her account earns 6% compounded monthly after retirement.
1. How much does she need to have saved up the day she retires
2. How much should she save every month starting one month from today if her account earns 6% compounded monthly?
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