If a person is 75 and lives until 95 and has $1,000,000 in the bank, and...
If a person is 75 and lives until 95 and has $1,000,000 in the bank, and the person wants $30,000 per year gross income, how much return does this person require annually?
Homework Answers
Number of Years =20
PMT =30000
PV =1000000
Rate using Financial Calculator
N=20;PMT =30000; PV =-1000000; CPT I/Y =-4.44%
This Person require annually -4.44%
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