How much do u have to invest each year to reach the goal

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You would like to have an annual $50,000 income generated from your retirement fund one year after your 65-year-old birthday for 20 years You start saving at exactly 25 years old (now) and you decided to start a retirement fund investment to reach that goal one year from now and maek your last deposit on your 65 year old birthday. Assume the annual interest rate at 8% per year and the investments and withdrawals of funds are made at the end of each year. How much money you will need in this account right after your last deposit?

How much do u have to invest each year to reach your goal?

Reference no: EM13189574

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