Business, 30.10.2021 14:00 krystinayagel013

You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $5000 per month. You have access to an account that pays an APR of 7.2% compounded monthly. This requires a nest egg of $694,841.38. What monthly deposits are required to achieve the desired monthly yield at retirement

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