Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / jay is working in a factory that offers a pension in the form of an annuity that pays 5% annual interest, compounded monthly

jay is working in a factory that offers a pension in the form of an annuity that pays 5% annual interest, compounded monthly

Finance

jay is working in a factory that offers a pension in the form of an annuity that pays 5% annual interest, compounded monthly. He wants to work for 30 years and then have a retirement income of $2000 per month for 20 years. How much do he and his employer together have to deposit per month into the pension fund to accomplish this?how much did jay deposit?How much interest did jay earn from his deposits?

Option 1

Low Cost Option
Download this past answer in few clicks

2.89 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE