Question: 2 - Anna, a civil engineer, invests $ 8 , 0 0 0 in a retirement fund today. The fund offers an 8 % annual
Anna, a civil engineer, invests $ in a retirement fund today. The fund offers an annual interest rate, compounded annually. Additionally, Anna plans to deposit an extra $ at the end of each year, starting from the nd year, and continue doing so for the next years.
Questions:
i What will be the total amount available in Annas account at the end of years?
ii If Anna decides to withdraw an equal amount of money every year for the next years starting at the end of year how much can she withdraw each year without exhausting the fund?
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