Question

Ahmad Abu Al-Hawa plans to retire 40 years from now. He expects that he will live 30 years after his retirement. He wants to have enough money upon reaching retirement age to be able to withdraw $180,000 from his account at the end of each year he expects to live. Ahmad plans to accumulate the retirement fund by making an equal deposit at the of each year for the next 40 years. The interest rate is expected to be 12% in all future periods. if Ahmad wants to withdraw the $180,000 from his account at the beginning of each year, how much must Ahmad deposit today? Choose... Choose... How much must Ahmad deposit Today accumulate the required amount? How much must Ahmad deposit each year to accumulate the required amount? Choose...

Answer 1