SOLUTION: When you retire you will initially require an annual income of 125,000 per year. You anticipate living for 25 years during retirement with an 8% investment return. How much do you
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Question 578097: When you retire you will initially require an annual income of 125,000 per year. You anticipate living for 25 years during retirement with an 8% investment return. How much do you need in your pension plans to cover this need? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! This is my guess:
You have amount per year in the pension plan
You make per year investment return per year
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For each year,
For 25 years,
You need $2,893,518.50 in the pension plan.
That's my guess, you might want a 2nd opinion, too
