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Category > Accounting Posted 02 Jun 2017 My Price 3.00

Mr. Jones intends to retire in 20 years at the age of 65

Mr. Jones’s Retirement

Mr. Jones intends to retire in 20 years at the age of 65. As yet he has not provided for retirement income, and he wants to set up a periodic savings plan to do this. If he makes equal annual payments into a savings account that pays 4 percent interest per year, how large must his payments be to ensure that after retirement he will be able to draw $30,000 per year from this account until he is 80?

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 02 Jun 2017 08:06 AM My Price 3.00

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Attachments

file 1496392210-2099621_1_636319135134312477_NPV.xlsx preview (44 words )
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