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CQXA

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Using the Time Value of Money charts provided, answer the following question.
 
(Note to Instructors: Provide the appropriate tables to students from Personal Finance, Sixth Edition, Appendix C: Financial Tables.)



Jack is 35 years old and is planning to retire at age 65. Based on a variety of factors, he is planning a retirement of 20 years. Jack determines that he will need $20,000 per year during his 20 years of retirement. If he can invest at 9%, how much will he need to save each year beginning today to reach his goal?


◦ $11,428.57
◦ $6,086.00
◦ $1,339.47
◦ $20,000.00


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Marked as best answer by CQXA on Apr 12, 2019

Jbrasil

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CQXA

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Reply 2 on: Apr 12, 2019
Gracias!


scikid

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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