Chad is saving for retirement. Expects to spend $43,500 per year for 15 years. Earns 6% per year with semi-annual compounding on his invested funds. Will draw down on his retirement fund at the beginning of retirement.
a)Draw a timeline of the returement needs. Determine the amount to be needed as retirement begins?
b)If chad retirement at age 66 and has just turned 45 how much must he save at the end of every quarter if he expected to 8%(ARP)?