1. Suppose you want to have $400,000 for retirement in 20 years. Your account earns 4% interest....
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1. Suppose you want to have $400,000 for retirement in 20 years. Your account earns 4% interest. How much would you need to deposit in the account each month?
2. You have $500,000 saved for retirement. Your account earns 10% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years?
Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
Posted Date: