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Warren plans to retire in 16 years. He will make 192 equal montly contributions to his...

Warren plans to retire in 16 years. He will make 192 equal montly contributions to his retirement account. One month after his last contribution, he will begin the first of 240 equal monthly withdrawals from the account. He expects to withdraw $2800 per month. How large must his monthly contributions be in order to accompish his goal if his account is assumed to earn interest at the APR of 6 %, compounded monthly througout the life of this problem? Round your answer to the nearest cent.

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jeff jeffy answered 2 years ago
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