Question: 1 0 . Brad is 2 5 . He plans to have $ 5 0 0 0 0 0 in a retirement fund when he

10. Brad is 25. He plans to have $500000 in a retirement fund when he retires in 40 years. Assume that, on average, Brad's deposits earn 8% compounded annually for the next 40 years. 1)What regular annual deposit must Brad make to have the required amount at retirement?2)How much has Brad contributed to the fund over the 40 years?

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