I intend to withdraw $40,000 at the END of each year from my retirement account to support my lifestyle in order to meet your retirement goals (withdrawing an annuity stream for 20 years) how much would you need to have in your retirement account at age 65 In other words, based on the amount of the...

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I intend to withdraw $40,000 at the END of each year from my retirement account to support

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I intend to withdraw $40,000 at the END of each year from my retirement account to support my lifestyle.
in order to meet your retirement goals (withdrawing an annuity stream for 20 years). how much would you need to have in your retirement account at age 65? In other words, based on the amount of the annuity from question #1, the total retirement savings account must have an actual balance of $______________ in the account on the day of retirement at age 65 assuming a rate of 5% compounded anually. This is a present value of annuity calculation (CPT PV). (Show all inputs below.)

INPUTS:

N =

I/Y =

FV =

PV =

PMT =

Posted Date: May 18, 2024 10:04 AM

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I intend to withdraw $40,000 at the END of each year from my retirement account to support

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