[Solved] You want to have enough in your retirement account to provide you and your heirs a continuing stream of $25,000 per year in real (constant) dollars
Question: You want to have enough in your retirement account to provide you and your heirs a continuing stream of $25,000 per year in real (constant) dollars as of your retirement date. The first payment would be on the first anniversary of your retirement. If the interest rate on the account is 7%, and the expected inflation rate is 4%, how much do you need to have in the account when you retire?
- $357,000
- $625,000
- $833,000
- $841,000 .
- $866,000
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