You plan to retire at age 65. You want to withdraw $100,000 from your savings account every year starting on your 65 th birthday. You expect to make your final withdrawal on your 84th birthday
How much must you have accumulated by your 65 th birthday in order to support your desired withdrawals if you earn 3% on your savings?
A) $1,532,379.91
B) $1,587,747.49
C) $1,475,351.31
D) $1,432,379.91
E) $1,090,095.56
A
You might also like to view...
The financial statement that reports whether the business earned a profit and also lists the types and amounts of the revenues and expenses is called:
a. A Balance sheet. b. A Statement of owner's equity. c. A Statement of cash flows. d. An Income statement. e. A Statement of financial position.
The ________ audit process should be conducted on new IT systems and services once they are implanted; and on existing systems periodically, often as part of a wider,
general audit of the organization or whenever changes are made to the organization's security policy. What will be an ideal response?