How much should you deposit into your retirement account each year for 10 years from now (i.e., years 0 to 9) if you want to be able to withdraw $50,000 per year forever starting at age 30? Assume the account earns interest at 10% annually. (I have the correct answer, but I'm confused on how to get to the solution)

Answer rating: 100% (QA)

1 Formula We can use the perpetuity formula with present value PV considerations to solve this probl... View the full answer