Question: A B c You contribute ( $ 1,000 ) annually to a retirement account for eleven years and stop making payments at the age of
A
B
cYou contribute \\( \\$ 1,000 \\) annually to a retirement account for eleven years and stop making payments at the age of 45 . Your twin brother (or sister... whichever applies) opens an account at age 45 and contributes \\( \\$ 1,000 \\) a vear until retirement at age 65 (20 years). You both earn 12 percent on your investments, How much can each of you withdraw for 25 years (that is, ages 66 through 90 ) from the retirement accounts? Use Appendix A, Appendix \\( C \\), and Appendix D to answer the question. Round your answers to the nearest dollar. You can withdraw Your twin can withdraw \\$ Interest Factors for the Present Value of an Annuity of One Dollar trime Period 10.9 P Type here to search \\( \\mathrm{H} \\) C \\( \\mathrm{m}_{2} \\mathrm{H} \\) 0
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
