Alpha Geek

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Category > Accounting Posted 04 Jun 2017 My Price 5.00

Your sister turned 35 today, and she is planning to save $5,000 per year

Your sister turned 35 today, and she is planning to save $5,000 per year for retirement, with the first deposit to be made one year from today. She will invest in a mutual fund that will provide a return of 8% per year. She plans to retire 30 years from today, when she turns 65, and she expects to live for 25 years after retirement, to age 90. Under these assumptions, how much can she spend in each year after she retires? Her first withdrawal will be made at the end of her first retirement year.
  A $47,888
  B $50,408
  C $53,061
  D $55,714
  E $58,500

Answers

Alpha Geek
(8)
Status NEW Posted 04 Jun 2017 07:06 AM My Price 5.00

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Attachments

file 1496561948-477988_1_636320720186977520_Spending-Amount-Calculation.xlsx preview (54 words )
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