Asked by Andy
You want to be able to withdraw $25,000 from your account each year for 20 years after you retire. If you expect to retire in 25 years and your account earns 7% interest while saving for retirement and 6.7% interest while retired
Round your answers to the nearest cents as needed.
a) How much will you need to have when you retire?
b) How much will you need to deposit each month until retirement to achieve your retirement goals?
c) How much did you deposit into you retirement account?
d) How much did you receive in payments during retirement?
e) How much of the money you received was interest?
I need to know exactly your getting these answers, I only have one shot at this. I have tried everything I was taught and I'm not understanding where to start. Please and thank you!
Round your answers to the nearest cents as needed.
a) How much will you need to have when you retire?
b) How much will you need to deposit each month until retirement to achieve your retirement goals?
c) How much did you deposit into you retirement account?
d) How much did you receive in payments during retirement?
e) How much of the money you received was interest?
I need to know exactly your getting these answers, I only have one shot at this. I have tried everything I was taught and I'm not understanding where to start. Please and thank you!
Answers
Answered by
raul
543.98
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.