Like to set up her retirement account

Reference no: EM131135876

Ella Funt would like to set up her retirement account that will begin in 30 years. To play it safe, she wants to assume that she will live forever and she will withdraw $160,000 annually. Assuming her account will earn 10% interest during the next 30 years and 6% interest afterwards forever, how much will Ella need to save annually over the next 30 years to fund her retirement account?

Reference no: EM131135876

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