(Answered) Caulfield mogul monty buxton age 30 would like to retire at

Finance

Caulfield mogul Monty? Buxton, age 30?, would like to retire at age 60. Once Mr. Buxton? retires, he wants to withdraw $1 billion at the beginning of each year for 9 years from a special offshore account which will pay 25?% annually.

In order to fund his? retirement, Mr. Buxton will make 30 equal? end-of-the-year deposits in this same special account which will pay 25?% annually.

How much money will Mr. Buxton need at age? 60, and how large of an annual deposit must he make to fund this retirement? account?

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