I want to retire in 40 years. When I retire, I want to withdraw
$20,000 every 6 months from my savings for a period of 10 years.
However, at the end of years two and three in my retirement, I will
need to spend $40,000 and $60,000 respectively to send my grandson
to culinary school. Assuming I can earn 4% compounded
semi-annually, answer the following question:
How much money will I need at year 40 to fund sending my
grandson...