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Unformatted text preview: Your first withdrawal will be one year after retirement (t=36) and will continue until you turn 80 (t=55). In addition, when you turn 80, you wish to leave $100,000 to your grandchildren. How much money do you need to deposit each year to cover your retirement expenses? 4) You just bought a house today for $250,000. The house was completely financed using a mortgage which charges an annual yield of 6%, with equal payments due to the bank paid monthly starting next month for 30 years (last payment 30 years from today). What is the monthly payment you owe to the bank? What is your balance after you made your payment 10 years from today?...
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