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Unformatted text preview: receive 24 additional annual payments. Annual inflation is expected to be 3%. He currently has $145000 saved, and he expects to earn 7% annually on his savings. How much must he save during each of the next 10 years (end-of-year deposits) to meet his retirement goal? Round your answer to the nearest cent. _________ Problem 2-39: R = 45000 G = 3% i = 7% n = 25 Answer: $4234.06 per year...
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This note was uploaded on 03/05/2010 for the course BMGT 364 taught by Professor -- during the Spring '10 term at UMBC.
- Spring '10