Question

Jason plans to retire in 35 years and live 30 years after his retirement.

- He will save $10,000 every year, starting from next year until his retirement (i.e. 35 years from today).
- After retirement, Jason wants to make 30 annual withdrawals.
The withdrawals
*are the same*over years. The first withdrawal will be made in the first year after his retirement. - The annual interest rate is 5%, which applies
*the whole time*to his retirement account.

How much can Jason withdraw each year after his retirement?

*Hints:*

*Draw the timeline correctly**Calculate how much Jason will accumulate by the time of his retirement**Calculate how much Jason can withdraw each year after his retirement*

Answer #1

**SEE THE IMAGE. ANY DOUBTS,
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**ANS 1 :
903203.07**

**ANS 2 :
58754.66**

BACKGROUND:
Jason wants to know how much money he needs to have in his
retirement account on the day he retires. Jason makes the following
ASSUMPTIONS:
--He will withdraw a DIFFERENT amount from his retirement
account each year he is retired. He will adjust the withdrawals for
inflation each year, following his first annual withdrawal.
--Jason wants to withdraw the equivalent of $75,000 (in terms of
today's dollars) in the FIRST year he is retired. Following this,
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