Essay
Jack is 35 years old and is planning to retire at age 65.Based on a variety of factors,he is planning a retirement of 20 years.Jack determines that he will need $20,000 during his 20 years of retirement.If he can invest at 9 percent,how much will he need to save beginning today to reach his goal?
(a)$11,428.57
(b)$6,086.00
(c)$1,339.47
(d)$20,000.00
Correct Answer:
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(c)$20,000 × 9.129 (PV annuity...View Answer
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