You plan to retire in 25 years time. After retirement you will need R50 000 per year.
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Question:
You plan to retire in 25 years’ time. After retirement you will need R50 000 per year. The first
drawing will happen at the beginning of your retirement period. You think you will live 20
years after retirement. If interest remains at 5%, how much will you need to deposit until
retirement?
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