Business, 01.10.2019 02:30 queen200760
Your grandparents are talking about their retirement in a year. they told you that they should have enough in their retirement funds to pull $50,000 a year for 20 years, starting one year from today. if the discount rate is 5 percent, how much should they have in their retirement account now? round to the nearest cent. do not include any unit (if your answer is $111.11, then type 111.11 without $ sign.)
Answers: 3
![Annuity * \frac{[1 - \frac{1 }{( 1 + r)^{n}}]}{r}](/tpl/images/0278/4072/8168a.png)
![50,000 \times \frac{[ 1 - \frac{1}{( 1 + 0.05)^{20}}]}{0.05}](/tpl/images/0278/4072/584d1.png)
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