Problem 7-28 You contribute $2,000 annually to a retirement account for nine years and stop making...
Problem 7-28 You contribute $2,000 annually to a retirement account for nine years and stop making payments at the age of 40. Your twin brother (or sister . . . whichever applies) opens an account at age 40 and contributes $2,000 a year until retirement at age 65 (25 years). You both earn 12 percent on your investments. How much can each of you withdraw for 25 years (that is, ages 66 through 90) from the retirement accounts? Use Appendix A, Appendix C, and Appendix D to answer the question. Round your answers to the nearest dollar.
You can withdraw $ .
Your twin can withdraw $ .
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Problem 7-28 You contribute $2,000 annually to a retirement
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