CHAPTER 1

N = 9 I = 8/2 = 4 Cpt. PV = 743,533 ( 743,533 + 100,000 =843,533 Pmt = 100,000 FV = 0 19. You estimate that by the time you retire in 35 years, you will have accumulated savings of $2 million. If the interest rate is 8 percent and you live 15 years after retirement, what annual level of expenditure will these savings support? ................
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