Finance question

Alice wants to retire in 10 years. She estimates that she will need $50100 per year during her retirement which will last 15 years. She can invest at 5.33% per annum and she pays no tax. Assume all transactions occur at the end of each year so her final payment into the fund is the day before retirement and the first withdrawal is a year after that.
(a) How much money would Alice have accumulated in her fund on the day retires?
(b) how much money must she save each year to achieve her goal?
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Asked Aug 18, 2013
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Answered May 26, 2019

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