Finance all of the aforementioned costs

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Reference no: EM131020318

You have to attain the following. First, you will retire in 45 years and will need $80,000 per annum for the 20 years of retirement. Second, you will finance a child’s education in 25 years, which will be $30,000 per annum for 4 years. Third, your parents nursing home will be $60,000 per year, starting in 30 years and lasting 15 years, and you will finance it. How much should you save per year for the first 45 years to finance all of the aforementioned costs? The interest rate is 5% for the full period.

Reference no: EM131020318

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