Lisa plans to retire on her 61st birthday on her 22nd, Ask an Expert

Economics

Lisa plans to retire on her 61st birthday. On her 22nd birthday, Lisa will start savin $A per year for 40 years. Starting on her 62nd birthday, Lisa plans on withdrawing $10000 and will continue these annual with drawls until the account is exhausted on her 85th birthday. If Lisa's bank account pays 3% per year, what annual amount of $A will Lisa need to invest in her bank account to achieve her retirement goal?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91408797

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