Mathematics, 07.10.2019 23:00 bigworm60
You plan to work for 40 years and then retire using a 25-year annuity. you want to arrange a retirement income of $3500 per month. you have access to an account that pays an apr of 6.0% compounded monthly. this requires a nest egg of $543,224.02. what monthly deposits are required to achieve the desired monthly yield at retirement?
Answers: 1
![A = \dfrac{P}{r}[1-(1+r)^{-n}]](/tpl/images/0298/3856/20512.png)
![A = \dfrac{3500}{\dfrac{0.06}{12}}[1-(1+\dfrac{0.06}{12})^{-300}]](/tpl/images/0298/3856/492d8.png)
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