A retirement plan makes monthly payments to you starting one month after you retire. It pays $3000 per month for the first five years (60 months) and $500 per month thereafter. If you anticipate living for 30 years (360 months) after retirement, and your discount rate is 1.20% (APR).

What is the value of this retirement plan on the day that you retire?

Answer rating: 100% (QA)

To calculate the value of the retirement plan on the day you retire we need to discount the future c... View the full answer