You think you will need to have saved $634,000 by the time you retire in 30 years
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Question:
You think you will need to have saved $634,000 by the time you retire in 30 years to be able to live comfortably. He also believes that he will inherit $119,000 in 5 years. (Do not leave cells blank; be sure to enter "0" where necessary. Do not round intermediate calculations. Round your answers to 2 decimal places.) |
If the interest rate is 7% per year, what is the future value of your inheritance at retirement? |
future value | ps |
How much should you save each year to reach your retirement goal? (Assume you save all of his inheritance. This is the amount needed in addition to the inheritance.) |
required annual savings | ps |
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
Posted Date: