Sadhil is saving up money for her retirement. She expects to be able to pay $450 per month toward her retirement in 29 years. In her model, she assumes an interest rate of 5.76% for that period.

After that, Sadhil will pay herself a monthly annuity for 32 years. To be defensive, she assumes an interest rate that is 100 basis points lower than in the initial 29 years.

Based on her assumptions, how high would the monthly annuity be for Sadhil?

 

How to calculate this problem.Please make me understand in a very simple way?

  mention how much you have taken for i/y, pv, fv, and N.

Answer rating: 100% (QA)

Here is how I would calculate this problem stepbystep in a simple way 1 Sadhil will pay 450 per mon... View the full answer