You just turned 21 today and you want to retire after your


You just turned 21 today and you want to retire after your 36th birthday. Starting your 37th birthday, you want to withdraw $40,000 for the next 30 years. First withdrawal is on your 37th birthday, and last withdrawal on your 66th birthday. You want to make equal payment deposits; first deposit will start on your 22th birthday and the last deposit will be on your 36th birthday so that you can withdraw $40,000 every year during your retirement years. How much equal payment deposits should you make? Assume a 15% interest rate for the entire period.

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Financial Management: You just turned 21 today and you want to retire after your
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