Chris just turned 50, and would like to receive annual retirement payments of $65,000 over a 20-year period starting whe

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answerhappygod
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Chris just turned 50, and would like to receive annual retirement payments of $65,000 over a 20-year period starting whe

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Chris just turned 50, and would like to receive annual retirement payments of $65,000 over a 20-year period starting when he is 75 years old. Assume Chris receives his payments at the end of each year. How much must Chris must save at the end each year for the next 25 years to achieve his goal if his investment will earn 8% compounded annually?
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