Suppose you want to have a balance in your savings account when you retire at 65 such
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Suppose you want to have a balance in your savings account when you retire at 65 such that you can make withdrawals of 10,000 starting on your 66th birthday. How much should you deposit on your 35th birthday in an account that pays 5% compounded annually, to that you can meet the objective?
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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