Mrs Young changes employers at age 46. She is given $8500 as her vested benefits in the
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Mrs Young changes employers at age 46. She is given $8500 as her vested benefits in the company's pension plan. She invests this money in a registered retirement savings plan paying 8%, compounded annually and leaves it there until her ultimate retirement at age 60. She plans on 25 annual withdrawals from this fund, the first on her 61st birthday. Find the size of these withdrawals.
Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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