You're planning your retirement. You want to withdraw $100,000 every year for 35 years of retirement,...

 

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You're planning your retirement. You want to withdraw $100,000 every year for 35 years of retirement, and your first withdrawal will be one year after your last savings contribution. Assume you earn 4% APR compounded annually while you are retired. How much do you need to have saved to finance your retirement? Always carry at least four decimal places throughout your analysis. Response should include 4 decimal places. Do not include percentage sign (for example, 12% would be entered as 0.1200). Do not include a dollar sign. Do not include comma (for example, 15,000 would be entered as 15000). (Trailing zeroes may disappear-do not worry about that) You're planning your retirement. You want to withdraw $100,000 every year for 35 years of retirement, and your first withdrawal will be one year after your last savings contribution. Assume you earn 4% APR compounded annually while you are retired. How much do you need to have saved to finance your retirement? Always carry at least four decimal places throughout your analysis. Response should include 4 decimal places. Do not include percentage sign (for example, 12% would be entered as 0.1200). Do not include a dollar sign. Do not include comma (for example, 15,000 would be entered as 15000). (Trailing zeroes may disappear-do not worry about that)

Answer rating: 100% (QA)

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