You are 20 years old and planning for retirement, when you will need $15,000 per year after
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You are 20 years old and planning for retirement, when you will need $15,000 per year after retirement up to the age of 80. You plan to make annual deposits into your account till you turn 60. If the interest rate is a constant 12% during the 40 year period, how much must you deposit annually into your account?
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Given Age 20 years Retirement Age 60 years Age till which pension required 80 years Interest Rate fr...View the full answer
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Mehwish Aziz
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Related Book For 
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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