Question: please answer question B IV (25 Points) You plan to retire in exactly 30 years. Your goal is to create a fund that will allow
IV (25 Points) You plan to retire in exactly 30 years. Your goal is to create a fund that will allow you to receive $25,000 at the end of each year for the 40 years between retirement and death. (A psychic told you that you would live exactly 40 years after you retire.) You will be able to earn 8 percent interest on all invested funds. A. How large a fund will you need in 30 years to fund your retirement? TPMT J I Terr -25,000 40 8 7 ($ 298,11 5933 B. What would be the future value of $1000 compounded continuously over a 5 year period at 6 percent? 1,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
