A person is planning for their future retirement and wishes to have a 10 year pension of 50,000$ per year to her descendants forever. Assuming 5% interest rate how much money they need in their savings account when their retirement starts in 20 years
A person is planning for their future retirement and wishes to have a 10 year pension of 50,000$ per year to her descendants forever. Assuming 5% interest rate how much money they need in their savings account when their retirement starts in 20 years
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 10P
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A person is planning for their future retirement and wishes to have a 10 year pension of 50,000$ per year to her descendants forever. Assuming 5% interest rate how much money they need in their savings account when their retirement starts in 20 years
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