You believe you will spend $40,000 a year for 20 years once you retire in 40 years.

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You believe you will spend $40,000 a year for 20 years once you retire in 40 years. If the interest rate is 6% per year, how much must you save each year until retirement to meet your retirement goal?

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Fundamentals of Corporate Finance

ISBN: 978-0077861629

8th edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus

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Question Posted: Jun 30, 2016 09:10 AM

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You believe you will spend $40,000 a year for 20 years once you retire in 40 years.

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By the time you retire you will need PV The future value of the ...View the full answer

Fundamentals of Corporate Finance

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