After graduating from college with a bachelor of business

Last updated: 2/10/2024

After graduating from college with a bachelor of business administration you begin an ambitious plan to retire in 25 58 years To build up your retirement fund you will make quarterly payments into a mutual fund that on average will pay 10 20 APR compounded quarterly To get you started a relative gives you a graduation gift of 2 588 43 Once retired you plan on moving your investment to a money market fund that will pay 5 28 APR with monthly compounding As a young retiree you believe you will live for 33 64 more years and will make monthly withdrawals of 9 184 73 YOUR WITHDRAWALS ARE AT THE BEGINNING OF THE MONTH To meet your retirement needs what quarterly payment should you make