Retirement Example 4 (Geometric Gradient Series)

Retirement Example 4 (Geometric Gradient Series) - in order...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Retirement Example 4 (Geometric Gradient Series) John is trying to figure out how much money he’ll need when he retires. If he retires at the age of 65, he can expect to live 20 more years. How much must John have saved up by Age 65
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: in order to have a retirement income of $50,000 the 1 st year and rising by 2.5%/year after that? Assume John’s retirement funds are invested in several stock and bond mutual funds with an average return of 4% per year....
View Full Document

This note was uploaded on 12/07/2011 for the course CIVL 4111 taught by Professor Moore,l during the Fall '08 term at U. Memphis.

Ask a homework question - tutors are online