Mathematics, 29.06.2019 03:20, starreee
suppose a man is 25 years old and would like to retire at age 60. ? furthermore, he would like to have a retirement fund from which he can draw an income of ? $100,000 per yearlong dash? forever! how can he do? it? assume a constant apr of 8? %.
he can have a retirement fund from which he can draw ? $100,000 per year by having ? $ in his savings account when he retires.
Answers: 1
= $1,250,000![A=\frac{PMT\times [(1+\frac{apr}{n})^{ny}-1]}{\frac{apr}{n}}](/tpl/images/0029/5213/8a4d4.png)
![PMT=\frac{A\times (\frac{APR}{n})}{[(1+\frac{APR}{n})^{ny}-1]}](/tpl/images/0029/5213/a6013.png)
![PMT=\frac{1,250,000\times (\frac{0.08}{12})}{[(1+\frac{0.08}{12})^{12\times 25}-1]}](/tpl/images/0029/5213/2ffd1.png)
![PMT=\frac{1,250,000\times (0.006667)}{[(1+\frac{0.08}{12})^{12\times 25}-1]}](/tpl/images/0029/5213/bc2af.png)
![PMT=\frac{1,250,000\times (0.006667)}{[(1+0.006667)^{300}-1]}](/tpl/images/0029/5213/40f6f.png)
![PMT=\frac{\frac{25000}{3}}{[1.006667^{300}-1]}](/tpl/images/0029/5213/425c3.png)
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