You are 28 years old. You plan to save for your retirement between now and age...

 

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You are 28 years old. You plan to save for your retirement between now and age 65 (when you retire). You would like your savings to finance a retirement income of $65,000 per year (at the end of the year) from age 65 to age 99. You will earn 5.40% each year on your savings. How much do you need to invest at the end of every year between age 28 and age 65 to finance your retirement plan? You are 28 years old. You plan to save for your retirement between now and age 65 (when you retire). You would like your savings to finance a retirement income of $65,000 per year (at the end of the year) from age 65 to age 99. You will earn 5.40% each year on your savings. How much do you need to invest at the end of every year between age 28 and age 65 to finance your retirement plan?

Answer rating: 100% (QA)

Heres what we know You are 28 years old You plan to retire at age 65 37 years from now You want your retirement income to be 65000 per year You want t... View the full answer