document.write( "Question 852917: could somebody help me figure out how to do this problem?\r
\n" ); document.write( "\n" ); document.write( "\"You want to be able to withdraw $40,000 from your account each year for 20 years after you retire. \r
\n" ); document.write( "\n" ); document.write( "You expect to retire in 15 years. \r
\n" ); document.write( "\n" ); document.write( "If your account earns 4% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?\" \n" ); document.write( "

Algebra.Com's Answer #513788 by ankor@dixie-net.com(22740) $\"\"$ $\"About$

You can put this solution on YOUR website!
\"You want to be able to withdraw $40,000 from your account each year for 20 years after you retire.
\n" ); document.write( "You expect to retire in 15 years.
\n" ); document.write( "If your account earns 4% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?\"
\n" ); document.write( ":
\n" ); document.write( "This is a complex equation, but using the annuity feature on my calc:
\n" ); document.write( "Assume you want 40k a yr for 20 yrs and it continues to pay 4%
\n" ); document.write( "You require $543,613 in the account when you retire
\n" ); document.write( ":
\n" ); document.write( "To have this amt in 15 yrs, paying 4%, you would have to deposit
\n" ); document.write( "$2,209 a month for 180 months (15 yrs) That's about $26500 a year \n" ); document.write( "

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