How many years will juan''s funds last, Accounting Basics

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How many years will juan''s funds last

Juan is evaluating his retirement plan. He estimates that he will have saved $750,000 when he retires in an account that earns at an APR of 4.00% compounded monthly. He plans to withdraw $60,000 annually at the end of each year after retiring.
a How many years will Juan's funds last?
b To make the funds last 30 years, what APR (with monthly compounding) will he need?

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Accounting Basics: How many years will juan''s funds last

Reference No:- TGS0683930

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Resolution is to start a retirement fund

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Q : Find conditional probability if student knew answer

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How many years will juan''s funds last

Reference No:- TGS0683930

Recent Questions Asked Accounting Basics

Q : Resolution is to start a retirement fund

Q : Compute the portfolios weights

Q : Determine monthly payments for customers

Q : Find conditional probability if student knew answer

Q : How many years will juan''s funds last

Q : Variance and standard deviation of the random variable

Q : How much will be in the fund at the end

Q : Calculate the probability that the player wins

Q : Mean-standard deviation for average person visiting doctor

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