At the age of 20 you decide to open an investment account


At the age of 20, you decide to open an investment account for retiring. You plan to retire at 50. How much will you have paid into the account monthly to accumulate enough funds to withdraw 9000 per quarter for the following 20yrs. till your 70.  all payments in and out of account are end of period payments. APR for first 30yrs is deposits. is 4% and compounded monthly, and 6% for the following 20yrs withdraws and is compounded monthly. Show all work

Request for Solution File

Ask an Expert for Answer!!
Business Economics: At the age of 20 you decide to open an investment account
Reference No:- TGS01134372

Expected delivery within 24 Hours