You estimate that by the time you retire in 35 years, you will have accumulated savings of $2
million. If the interest rate is 8% and you live 15 years after retirement, what annual level of expenditure
will those savings support?
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Answer:
Hey there am using brainly
Answered by
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Given:
No. of years to retirement =35 years
Savings= 2 $
Interest rate= 8%
No. of years lived after retirement= 15 years
To Find:
The Annual level of expenditure will those savings support
Solution:
The Present value
The Annual level expenditure is 233,659.09.
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