What are the equal and annual end of year payments

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Reference no: EM131338940

Upon retirement, your goal is to spend five years traveling around the world. To travel in the style to which you are accustomed will require $250,000 per year at the beginning of each year.

If you plan to retire in 30 years, what are the equal, annual, end-of-year payments necessary to achieve this goal? The funds in the retirement account will compound at 10 percent annually.

Reference no: EM131338940

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