14 Mateo Currently Has Nothing Saved For His Retirement Which Will Start In 6 Years 2458961

14. Mateo currently has nothing saved for his retirement, which will start in 6 years from today. Mateo wants to receive 68,500 dollars each year for 5 years during retirement. The first of these payments will be received in 6 years from today. Mateo can earn a return of 7.6 percent per year in his account. How much does Mateo need to save each year for 6 years to have exactly enough to meet his retirement goal if he makes his first contribution to savings in one year from today and all contributions are equal?

 

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