Save any money between today and retirement

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Now assume that you just got a call from your rich Uncle Dylan and he is going to give you a large sum of money for your birthday today. Assuming that you could earn an 8.5% annual return with semiannual compunding on this money from today until your 65th birthday, how much money does Uncle "D" need to give you today so that you would not have to save any money between today and retirement (i.e. not have to save the $300 and $500 monthly amounts described above), and still be able to withdraw the $90,000 per year during retirement after selling the house and buying the RV?

Reference no: EM131089446

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