Suppose a man is 30years old and would like to retire at age 65 Furthermore, he would like to have a retirement fund from which he can draw an income of $50,000 per yearlong dash—forever! How can he do it? Assume a constant APR of 5%.

Question

Suppose a man is 30years old and would like to retire at age 65 ​Furthermore, he would like to have a retirement fund from which he can draw an income of ​$50,000 per yearlong dash—​forever! How can he do​ it? Assume a constant APR of 5​%.

He can have a retirement fund from which he can draw ​$50,000 per year by having $  in his savings account when he retires.

Tanisha · Answer

Suppose a man is 35 years old and would like to retire at age 60. Furthermore, he would like to have a retirement fund from which he can draw income of $125,000 per year— forever! How can he do it? Assume a constant APR of 8%.

Suppose a man is 30years old and would like to retire at age 65 ​Furthermore, he would like to have a retirement fund from which he can draw an income of ​$50,000 per yearlong dash—​forever! How can he do​ it? Assume a constant APR of 5​%.

Suppose a man is 30years old and would like to retire at age 65 Furthermore, he would like to have a retirement fund from which he can draw an income of $50,000 per yearlong dash—forever! How can he do it? Assume a constant APR of 5%.