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• I want to be able to have $50,000 a year during retirement. I want to make sure that I can have it until I am 100 years old. I plan to retire at 65. I can earn 5%. How much do I need to have at retirement to be able to make it?

Respuesta :

Answer:

present value of given cash flow is = $818709.71

Explanation:

given data

rate = 5%

no of period NPER = 35   ( 65 to 100 )

PMT =  $50,000

solution

we get here present value of cash flow that is calculated as excel function

pv(rate, NPER, PMT,FV,type)

here future value and type is 0

so put here value

pv(5%, 35, $50000, 0, 0)

so present value of given cash flow is = $818709.71

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