whose 20th birthday is today, is planning for her retirement. She intends making monthly deposits, each $700, starting today. The last of these deposits will be on her 50th birthday. She will then continue making monthly deposits each $1000 from one month after her 50th birthday up to, and including on, her 65th birthday. Rates are J3 = 4.2% and this rate is not expected to change. a. How much will she have in her bank account immediately after her last deposit on her 65th birthday? [8] b. She then intends making annual withdrawals starting on her 66th birthday and plans to have a zero balance after she has made her last withdrawal. She believes that as she gets older during her retirement she will be less active and therefore will require less money to live. She therefore plans so that each withdrawal is 1.45% less than the previous. What will her first withdrawal be? [5] c. What will her last withdrawal be?

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a To calculate the amount she will have in her bank account immediately after her last deposit on he... View the full answer