please solve using excel functions. When you retire 40 years from now, you plan...
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please solve using excel functions.
When you retire 40 years from now, you plan to make 10 withdrawals from your savings account. You will need $130,000 per year for 2 years, then $140,000 for 3 years and $160,000 for 5 years, in that order at the end of each year. You want to start saving for retirement now and plan to make end of year annual payments for 20 years into an account that yields 8 percent compounded annually. After these deposits you plan to leave the money in the savings account until retirement earning the same interest. What should these 20 equal annual payments be in order to satisfy your retirement needs
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