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How much money must easy have in the account

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Point 1: EZ Leifer plans to retire at the age of 65 and believes he will live to be 90. EZ wants to receive an annual retirement payment of $54,000 at the beginning of each year. He sets up a retirement account that is estimated to earn 7.2 percent annually.

Question 1: How much money must Easy have in the account when he reaches 65 years old? (Do not round intermediate calculations, round answer to four decimals, i.e. 123.45)

Reference no: EM132493256

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