Solution-What should you have in your retirement account

What should you have in your retirement account

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Reference no: EM132385814

Imagine that you have saved $500,000 by the time you retire at age 65 and want to receive $4,000 a month ($48,000 a year) for living expenses for the next 14 years.

(a) If your money earns 4% compounded annually, would your $500,000 provide you with what you need?

(b) What should you have in your retirement account?

Reference no: EM132385814

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What should you have in your retirement account

Reference no: EM132385814

Reference no: EM132385814

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