How much should you place in the retirement fund

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Reference no: EM1316193

TVM calculations

You are 40 years old and plan to retire in exactly 20 years. Starting 21 years from now you will need to withdraw $5,000 per year from your retirement fund to supplement your social security payment. If you expect to live to age eighty-five how much should you place in the retirement fund each year for the next 20 years to reach your retirement goal, assuming you can earn 12% per year on your retirement fund investment? Show your formulas and input

Reference no: EM1316193

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