How much must you place into your retirement plan monthly

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Reference no: EM13212237

Suppose that at 35 years old you are a well-paid project leader with Electrolux USA. You plan to work for this company for 20 more years and retire from it with a retirement income of $5000 per month for the rest of your life. Assume an earning rate of 6% per year compounded monthly on your investments. How much must you place into your retirement plan monthly starting at the end of next month (month 1) and ending one month prior to the commencement of the retirement benifit?

Reference no: EM13212237

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