Martha has estimated that she would need \\( \\$ 35,000 \\) per year (in today's...
80.2K
Verified Solution
Link Copied!
Question
Finance
Martha has estimated that she would need \\( \\$ 35,000 \\) per year (in today's \\( \\$ \\) terms) to live on in retirement. She will be retiring in 30 years and is funding for a 23 -years retirement period. The inflation rate is expected to be \2 per year and the after-tax return on her investments is expected to be \5.5. Calculate the lump sum amount required at the beginning of her retirement. \\[ \\begin{array}{l} \\$ 997,374 \\\\ \\$ 1,031,578 \\\\ \\$ 1,159,689 \\\\ \\$ 1,176,313 \\end{array} \\]
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.