Answered

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You want to be able to withdraw $35,000 from your account each year for 20 years after you retire. If you expect to retire in 25 years and your account earns 5.2% interest while saving for retirement and 4.4% interest while retired:
Round your answers to the nearest cent 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?
$

Sagot :

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