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How much money should timothy and tiffany deposit annually for 20 years in order to provide?

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Below is to complete the question;

How much money should Timothy and Tiffany deposit annually for 20 years in order to provide an income of $30,000 per year for the next 10 years? Assume the interest rate is a constant 4%.

Use the annual rate formula.

You are given Future, F=$30,000
You are given interest, i=4% or 0.04
You are given time, n=10 years for future equation and n=20 years for annual equation.

Plug those numbers in the formulas your teacher gave you.

User Areg Sarkissian
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