How large will your annual retirement payment be

Reference no: EM131965954

Question: You have decided to retire. You would like to receive equal retirement payments each year for the next 10 years. Y ou want to receive your first retirement payment in one year. Y ou currently have 51,000,000 of savings. You expect to receive another $1,000,000 in 5 years. You can earn 10 percent interest compounded annually on your savings. How large will your annual retirement payment be?

Reference no: EM131965954

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