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You are 42 years old you have 225000 saved you plan to save

You are 42 years old. You have $225,000 saved. You plan to save $14000/year for 15 years until you take early retirement. You will earn 8% on your savings.

A. How much will you have in 15 years (the future value)?

B. If you can earn 6% on your savings after you retire in 15 years. If you plan to live 40 years after you retire, how much will you be able to withdraw per year for those 40 years?

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Finance Basics: You are 42 years old you have 225000 saved you plan to save

Reference No:- TGS02658893

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