c. The Flemings will need $160,000 annually for 20 years during retirement. How much will they need at retirement if they can earn a 4% rate of return? d. The Hamptons want to have $3,500,000 for their retirement in 30 years. How much should they save annually if they think they can earn 7% on their investments?
c. The Flemings will need $160,000 annually for 20 years during retirement. How much will they need at retirement if they can earn a 4% rate of return? d. The Hamptons want to have $3,500,000 for their retirement in 30 years. How much should they save annually if they think they can earn 7% on their investments?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 35P
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c. The Flemings will need $160,000 annually for 20 years during retirement. How much will they need at retirement if they can earn a 4%
d. The Hamptons want to have $3,500,000 for their retirement in 30 years. How much should they save annually if they think they can earn 7% on their investments?
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