Joe H.

asked • 04/30/20

finance monthly payments

You would like to set up an annuity so that, after you retire, you can take out the interest from the maturity value every month to pay living expenses (you predit that you will need $1200 every month). If you start saving 20 years before retirement into an account paying 6% interest, how large of a monthly payment will you need to make?

1 Expert Answer


Nima N. answered • 04/30/20

4.8 (23)

Experienced Finance and Accounting Tutor

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