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egoroff_w [7]
3 years ago
14

A man is planning to retire in 25 years. He wishes to deposit a regular amount every three months until he​ retires, so​ that, b

eginning one year following his​ retirement, he will receive annual payments of​ $80,000 for the next 15 years. How much must he deposit if the interest rate is​ 6% compounded​ quarterly?
Business
1 answer:
WARRIOR [948]3 years ago
4 0

Answer:

He would probably need to deposit 35k

Explanation:

He would need to deposit 35k cause the other 45k would be used to buy stuff like food clothes etc. And thats the recommended amount to deposit

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