Question: ANSWER KEY PROVIDED BELOW. YOUR WORK HAS TO MATCH THE ANSWERS FOR EACH QUESTION. C)) (5 (6) @) Steven Wong wishes to save for his

ANSWER KEY PROVIDED BELOW. YOUR WORK HAS TO MATCH THE ANSWERS FOR EACH QUESTION.

ANSWER KEY PROVIDED BELOW. YOUR WORK HAS TO MATCHANSWER KEY PROVIDED BELOW. YOUR WORK HAS TO MATCH
C)) (5 (6) @) Steven Wong wishes to save for his retirement by depositing $1,200 at the beginning of each year for thirty years. Exactly one year after his last deposit, he wishes to begin making annual level withdrawals until he has made twenty withdrawals and exhausted the savings. Find the amount of each withdrawal if the effective interest rate is 5% during the first thirty years but only 4% after that. Starting on his 25th birthday and continuing through his 60th birthday, Fred deposits $7,500 each year on his birthday into a retirement fund earning an annual effective rate of 5%. Immediately after the last deposit, the accumulated value of the fund is transferred to a fund earning an annual effective rate of j. Five years later, a twenty-five year annuity-due paying $5,800 each month is purchased with the funds. The purchase price of the annuity was determined using an annual effective rate of interest of 4%. Find j . Given dy = 12 and d3;) = 21, find a7 Given dy = 31.61667882 and 5577 = 64,024.90944, find i and n. \f

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