A 3 0 year - old person plans to retire at 6 4 and live until 9
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Question:
A yearold person plans to retire at and live until During retirement, the person will take a growing annuity from the retirement account. The amount in the first year will be $ with a growth rate.
The return on savings before retirement is an after retirement is
Initial savings are zero, and the person does not want to leave a legacy at the time of death.
How much must the person save per year before retirement to achieve this goal?
Related Book For
Fundamentals Of Investing
ISBN: 9780135175217
14th Edition
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
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