Retirement plan: Alright, we’ve finally got everything. We know how much we’ll be taking out each year ($41,000), we know how many years we’ll be making this withdrawal (31 yrs), we know our real rate of return (6.31%). Let’s assume we make these withdrawals at the start of each year. What’s the value of this stream of withdrawals on the day we retire?
Retirement plan: Alright, we’ve finally got everything. We know how much we’ll be taking out each year ($41,000), we know how many years we’ll be making this withdrawal (31 yrs), we know our real rate of return (6.31%). Let’s assume we make these withdrawals at the start of each year. What’s the value of this stream of withdrawals on the day we retire?
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN:9781337117005
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter2: Using Financial Statements And Budgets
Section: Chapter Questions
Problem 6FPE
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Retirement plan: Alright, we’ve finally got everything. We know how much we’ll be taking out each year ($41,000), we know how many years we’ll be making this withdrawal (31 yrs), we know our real
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