Answer:
$383,500.68
Step-by-step explanation:
The amount needed is the present value of the $30,000 that Anna will withdraw for 25 years compounded at 6% annually
=pv(rate,nper,pmt,fv)
rate is the annual rate of 6%
nper is the number of years of withdrawal which is 95-70=25
pmt is the amount of annual withdrawal which is $30,000
fv is the amount of withdrawals which is unknown
=pv(6%,25,-30000,0)=$383,500.68
The amount of she required at 70 is $383,500.68 which gives her the benefit of withdrawing $30,000 per year at retirement
