Derek plans to retire on his 65th birthday. However, he wants to work part-time until he turns 72. Dunrig these years of part-time work, he will neither make deposits nor take withdrawals from the...


Derek plans to retire on his 65th birthday. However, he wants to work part-time until he turns 72. Dunrig these years of part-time work, he will neither make deposits nor take withdrawals from the retirement account. Exactly one year after the day he turns 72 when he fully retires, he wants to have $3,130,549.00 in his retirement account. He will make contributions to his retirement account from his 26th birthday to his 65th birthday To reach his goal, what must the contributions be? Assume a 9.00% interest rate.



Jun 06, 2022
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