You wish to retire in 13 years at which time you want to

Reference no: EM13607969

You wish to retire in 13 years, at which time you want to have accumulated enough money to receive an annual annuity of $28,000 for 18 years after retirement. During the period before retirement you can earn 9 percent annually, while after retirement you can earn 11 percent on your money. What annual contributions to the retirement fund will allow you to receive the $28,000 annuity? Use Appendix C and Appendix D. (Round "PV Factor" and "FV Factor" to 3 decimal places and final answer to 2 decimal places. Omit the "$" sign in your response.) Annual contribution:

Reference no: EM13607969

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