You want to retire at age 63 and expect to live until 89. You would like an annual gross income of $63,000 paid out in an animal annuity. You are going to invest conservatively and so will earn 3.75 % per year during retirement. Ignore any effects of inflation or taxation. 

How much do you need saved up at the age of 63 to meet this goal?

Answer rating: 100% (QA)

PV PMT 1 1 rn r Where PV Present Value amount you need to ... View the full answer