Your parents are paying $14,400 per year for Health Care insurance and you are sure...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Your parents are paying $14,400 per year for Health Care insurance and you are sure by the time you retire that amount is likely to be at least $50,000. How much should you set aside now, today, in order to receive $50,000 every year for 20 years but the first payment will be 45 years from now. Assume interest rate of 3%. A). $202,610.22 B). $252,088.52 C). $194,077.67 D). $196,900.01
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
