Ella Funt would like to set up her retirement account that will begin in 30 years....
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Ella Funt would like to set up her retirement account that will begin in 30 years. To play it safe, she wants to assume that she will live forever, and she will withdraw $180,000 annually. Assuming her account will earn 9% interest during the next 30 years and 4% interest afterwards forever, how much will Ella need to save annually over the next 30 years to fund her retirement account? Ella Funt would like to set up her retirement account that will begin in 30 years. To play it safe, she wants to assume that she will live forever, and she will withdraw $180,000 annually. Assuming her account will earn 9% interest during the next 30 years and 4% interest afterwards forever, how much will Ella need to save annually over the next 30 years to fund her retirement account?
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Answer First calculate the money required in Ella Funts retirement account that will begin ... View the full answer
Related Book For
Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science
ISBN: 978-0324656633
5th edition
Authors: Cliff T. Ragsdale
Posted Date:
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