Business, 24.03.2020 21:44 greciakawaii

A couple just got married and they are both 25 years of age. They each plan to retire in 40 years at the age of 65. They want to be able to receive $80,000 (together) at the end of each year for 20 years upon retirement (i. e. between ages 66-85). Currently they have a combined $10,000 in cash and in addition they expect to receive $25,000 each as retirement bonuses when they are 65 years old. How much must they save at the end of each year for the next 40 years so as to have enough money to achieve their retirement goal? Assume that the discount rate is 9% and it will remain the same throughout their lives

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A couple just got married and they are both 25 years of age. They each plan to retire in 40 years at...

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