What is the value of retirement earnings

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You will retire in 25 years. Upon retirement, you will earn 10,000 per year for 15 years. How much do you need to save each year for the next 24 years in order to be able to pay for your retirement? Assume that you make equal payments each year, starting one year from today, and that the interest rate is 10%.

What is the value of your retirement earnings at the end of year 24?

What is the payment amount per year required to have the future value stated in the above question

Reference no: EM132389626

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