After one year of employment, Hasan has joined his company's pensionplan. He estimates he will retire in 35 years, and will be retired for a total of 25 years. During his retirement, he will need S50, 000 at the beginning of each year. At a discount rate of 4%, compounded quarterly, what should be his savings goal? a. S807, 655b. S963, 258c. S2, 184,431d . S3, 878, 614
After one year of employment, Hasan has joined his company's pensionplan. He estimates he will retire in 35 years, and will be retired for a total of 25 years. During his retirement, he will need S50, 000 at the beginning of each year. At a discount rate of 4%, compounded quarterly, what should be his savings goal? a. S807, 655b. S963, 258c. S2, 184,431d . S3, 878, 614
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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After one year of employment, Hasan has joined his company's pensionplan. He estimates he will retire in 35 years, and will be retired for a total of 25 years. During his retirement, he will need S50, 000 at the beginning of each year. At a discount rate of 4%, compounded quarterly, what should be his savings goal?
a. S807, 655
b. S963, 258
c. S2, 184,431
d . S3, 878, 614
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