Contemporary Engineering Economics 6th Edition by Chan Park

تمرين 48

Cory Manciagli is planning to retire in 20 years. Money can be deposited at 6% compounded quarterly. What quarterly deposit must be made at the end of each quarter until Corey retires so that he can make a withdrawal of $40,000 semiannually over the first 10 years of his retirement Assume that his first withdrawal occurs at the end of six months after his retirement.