You are 30 years old & have just completed your MBA at Carlson. You begin your job tomorrow and plan to put $750 of each month’s pay into a 401K. Based upon your investment choices, you expect to earn 7.25% return. You expect to retire at age 67. You will begin taking your 1st payout immediately upon retirement and plan to take quarterly payments. You plan to die at age 95 and to leave nothing to your heirs. You believe this account will earn only 3.5%. How much will your quarterly payments be?

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future value interest factor annuity100725 37 100725 FVIFA FOR 37 YEARS AND 725 FIVFA... View the full answer