Two friends, Alysha and Kimberly, are planning for their retirement. Both are 20 years old and...
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Two friends, Alysha and Kimberly, are planning for their retirement. Both are 20 years old and plan on retiring in 40 years with $1,000,000 each. Kimberly plans on making annual deposits beginning in one year (total of 40 deposits) while Alysha plans on waiting and then depositing twice as much as Kimberly deposits. If both can earn 6.40 percent per year, how long can Alysha wait before she has to start making her deposits? (Round answer to 2 decimal places, e.g. 125. Do not round your intermediate calculations.) Alysha can wait for years Two friends, Alysha and Kimberly, are planning for their retirement. Both are 20 years old and plan on retiring in 40 years with $1,000,000 each. Kimberly plans on making annual deposits beginning in one year (total of 40 deposits) while Alysha plans on waiting and then depositing twice as much as Kimberly deposits. If both can earn 6.40 percent per year, how long can Alysha wait before she has to start making her deposits? (Round answer to 2 decimal places, e.g. 125. Do not round your intermediate calculations.) Alysha can wait for years
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Analyzing Alysha and Kimberlys Retirement Savings Given Alysha and Kimberly both aim to retire with 1000000 each in 40 years Kimberly starts making an... View the full answer
Related Book For
Introduction To Corporate Finance
ISBN: 9781118300763
3rd Edition
Authors: Laurence Booth, Sean Cleary
Posted Date:
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