I want to open a retirement account that earns 3 ineterest a

I want to open a retirement account that earns 3% ineterest annually. I\'m 53 and wants to retire at age 70. I am going to assume I will live to 80. At retirement age I will withdraw $1500 a month to live off. How much money do I have to contribute to this account from now until I retire?

for living 70 to 80 (time perod is 10 years) you need = $1500*12*10 =$180000

alculate Accrued Amount (Principal + Interest)

now

180000 = P(1.3)^27

180000 = P(1192.61)

P= 151.93

$I want to open a retirement account that earns 3% ineterest annually. I\'m 53 and wants to retire at age 70. I am going to assume I will live to 80. At retireme$

I want to open a retirement account that earns 3 ineterest a

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