Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Your friend is celebrating her birthday and wants to start saving for retirement

Your friend is celebrating her birthday and wants to start saving for retirement

Finance

Your friend is celebrating her birthday and wants to start saving for retirement. She has provided you with the following information: Years until retirement: 40 Amount to withdraw each year in retirement: $90,000 Years to withdraw in retirement: 20 Interest rate while saving: 8% Interest rate in retirement: 3% Saved today: $10,000 The first deposit will be made one year from today, and the last deposit will be made on the day she retires. Her first withdrawal will not take place until one year after she retires and she plans to spend her entire nest egg. Calculate the amount she will need to deposit each year in order to reach her retirement goal. (Enter a positive value and round to 2 decimals)

Option 1

Low Cost Option
Download this past answer in few clicks

3.95 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE