Your friend is rethinking her retirement plan.With the $100,000 already in the account, how much would she need to add in each year to realize her retirement objective above, assuming a 6 percent annual rate of return for both the amount in the account today and for any additional savings?She wants to make 20 equal payments annually beginning one year from today and the last payment will occur on the day she retires. If she wants to take a little more risk and obtain an 8.0% annual rate of return, what would her annual payments be?

Answer rating: 100% (QA)

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