Assume that a private retirement company promises you $ 4 0 , 0 0 0 per year
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Question:
Assume that a private retirement company promises you $ per year starting at the end of the year when you turn years old. The $ payment will increase per year. If your discount rate is compounded annually, and you plan to live for years after retiring. Write your answer with decimal spaces. Indicate a sign for negative answers.
a What is the value of your retirement account at age $
B You are years old today. You will contribute the same amount to the plan at the end of every year from today. How much do you need to contribute each year to fund your retirement? Solve Using Excel.
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