Financial planner you receive a call from the customer

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Reference no: EM131188002

As a financial planner you receive a call from the customer of your company who is planning to retire in year 2036. The person wants to withdraw from its account from 2036 until 2056 exactly $120,000 per year. How much money the person need to deposit in equal sums each year until 2036 if her/his inerest rate is 8% and she/he receives a gift of $200,000 in year 2022 and deposits that gift it in the same account.

Reference no: EM131188002

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