You would like to collect 3500 respectively quarter for 10 years after you retire and you can set up this annuity in a n story that pays 12% compounded quarterly. how much will you need at the formation of your annuity?
Feedback is greatly appreciated!
Answers: If made an initial deposit "D0" and each quarter thereafter you withdraw "T" amount
'n' number of quarters
'i' interest rate per quarter i.e. 12% APR use 0.12/4
'D0' initial deposit
'T' withdrawel at initiation of each quarter starting on 2nd quarter
Balance after 'n' station with 'T' debt each quarter
Bal(n) = D0*(1+i)^n + T*( (1 - (1 + i)^n) / i) - 1)
set 'n' = 10*4 = 40 billet
set Bal(n) = 0
solve for D0
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Feedback is greatly appreciated!
Answers: If made an initial deposit "D0" and each quarter thereafter you withdraw "T" amount
'n' number of quarters
'i' interest rate per quarter i.e. 12% APR use 0.12/4
'D0' initial deposit
'T' withdrawel at initiation of each quarter starting on 2nd quarter
Balance after 'n' station with 'T' debt each quarter
Bal(n) = D0*(1+i)^n + T*( (1 - (1 + i)^n) / i) - 1)
set 'n' = 10*4 = 40 billet
set Bal(n) = 0
solve for D0
Resolved Questions: