How much do you need when you retire to provide a $2,500 monthly check that will...

Question

Question

How much do you need when you retire to provide a $2,500 monthly check that will last for 25 years? Assume that your savings can earn 6% per year.

Answer 1

Answer #1

This can be solved using Present value of annuity formula Present value of annuity is = P*(1-(1-1)^-n)/r P is Monthly amoun

Answer 2

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