Question: 7. [20 points] You are trying to decide how much to save for retirement. Assume you plan to save $5,000 per year and will make

7. [20 points] You are trying to decide how much to save for retirement. Assume you plan to save $5,000 per year and will make the first deposit a year from today. You think you can earn 12% per yea on your investments and you plan to retire in 40 years, immediately after your last $5,000 deposit. [ 5 points] If you decide to withdraw $475,000 per year in retirement, how many years will it take until you exhaust your retirement savings? Type your numeric answer and submit
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