What size nest egg do we need in order to retire with a 20-year annuity that...

Question

Question

What size nest egg do we need in order to retire with a 20-year annuity that yields $5000 per month if the retirement account pays an APR of 6%?

Answer 1

Answer #1

Value should be =Present value = pv = PMT*(1-(1/(1+r^n)}}/ $697,903.86 $5000*(1-(1/(1.005~240)))/0.005

Answer 2

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