24 Jul HOW MUCH WILL WARREN NEED TO DEPOSIT INTO IT EACH YEAR FOR THE LAST TEN YEARS OF HIS WORK CAREER TO ATTAIN THE $2000000 GOAL?
Warren Reed just turned 40. He has decided that he would like to retire when he is 65. He thinks tha Show more Warren Reed just turned 40. He has decided that he would like to retire when he is 65. He thinks that he will need $2000000 in special retirement accounts at age 65 to maintain his current lifestyle. For the next 15 years he can afford to put $10000 per year into the account. At age 55 he will need to withdraw $50000 to purchase membership in the local country club. If his retirement account earns 10% compounded annually How much will Warren need to deposit into it each year for the last ten years of his work career to attain the $2000000 goal? Show less
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