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How much will Jack be able to spend per year

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Question - Jack Sparrow has failed to save any money during his years of pirating the seas and now needs to start saving for his retirement. He has just started a full time job and plans to save $15,000 a year for the next 14 years. How much will Jack be able to spend per year starting in year 15 for the next 20 years given his Pirate Super fund earns 12%p.a.?

a. 54039.33

b. 24294.45

c. 10500

d. 65050.23

e. 45261.37

Reference no: EM132532719

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