Mandeep Kaur is currently 22 years old and wants to retire by the age of 50 and has set a target of 1,500,000 as the future value of cash in her bank account when she intends to retire comfortably. Market interest is fluctuating but on Average, the interest will be 1.6% throughout her working life.

1. What will be her yearly payments if She puts them aside at the end of each year?

2. What will be her yearly payments if She puts them aside at the beginning of each year?

 

Answer rating: 100% (QA)

M O formula for future value in annuity 0 1 1 1 Futurevalne ... View the full answer