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Rosie wants to retire in 30 years. At retirement she wants to be able to withdraw $100,000 at the ...

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Rosie wants to retire in 30 years. At retirement she wants to be able to withdraw $100,000 at the ...

Rosie wants to retire in 30 years. At retirement she wants to be able to withdraw $100,000 at the end of each year forever (she plans on establishing a scholarship fund at her local university after her death). Assuming that her investments can earn 10% compounded semi-annually prior to her retirement and only 5% compounded annually after her retirement (retired people and universities are very conservative investors), how much must Rosie invest each year for the next 30 years? Assume her first deposit will occur in one year.

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Corporate Finance

Edition: 5^th

Author: Booth

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