When you finally retire, you want to be able to draw from an account an annual salary of $100,000 for 20 years. approximately how much should be in your account that has an apr of 5% when you retire, such that you can draw an annual salary of $100,000? assume an ordinary annuity.
a.
$62,000
c.
$1,310,000
b.
$1,250,000
d.
$3,000,000