At $48,$ you settle back down at a new job. Your starting salary is $$180,000$ per year, and this salary is expected to increase at a rate of $6\%$ each year. You begin saving for

retirement again by placing $5\%$ of your salary each year into the original retirement savings account that is earning $10\%$ interest, compounded yearly. Note, the first deposit will

happen at age $49.$ At $65$ you make your last deposit into the savings account and decide to retire.

What is the balance of your retirement account immediately after the last denosit?

$2$

$\frac{0}{1}$ point

You want to begin making uniform annual withdrawals from your retirement account $($first withdrawal will be in one year at age $66).$ Thinking of your $10$ grandchildren, you

decide that you would like to haverenough money left in your retirement account to leave each of them $$125,000.$ You will make your last withdrawal at age $85.$ The interest rate

earned by the retirement account 'remains at $10\%$ per year.

What uniform annual withdrawal $(66$ to $85)$ can you make from the retirement account such that there is enough money left at the end tn oive osoh

$1$

$1/1$ point

At $24,$ you finish college and are fortunate enough to have a job waiting for you. Your first job has a starting salary of $$75,000$ per year. This salary is expected to increase by

$$5,000$ each year. You decide to start saving for retirement right away. Each year you invest $5\%$ of the year's salary in an account that earns $10\%$ interest, compounded yearly.

For simplicity, assume the deposit is made at the END of each year $($so if age $24$ is $t=0,$ then the first deposit will be at age $25).$

If you continue to save in this manner, how much will be in your retirement account immediately after you make the deposit at age $45?$

$2$

$\frac{1}{1}$ point

When you are $32,$ you win $$20,000$ in the lottery. You decide to spend half of your winnings immediately and place the other half in your retirement savings account $($which is

earning interest at $10\%$ per year. At $45($after making the retirement account deposit$),$ you decide to quit your job and take a two$-$year trip around the world. To help finance this

trip, you withdraw $15\%$ of the current balance in your retirement savings account.

At $48,$ you settle back down at a new job. Your starting salary is $$180,000$ per year, and this salary is expected to increase at a rate of $6\%$ each year. You begin saving for

retirement again by placing $5\%$ of your salary each year into the original retirement savings account that is earning $10\%$ interest, compounded yearly. Note, the first deposit will

happen at age $49.$ At $65$ you make your last deposit into the savings account and decide to retire.

What is the balance of your retirement account immediately after the last denosit?

$2$

$\frac{0}{1}$ point

You want to begin making uniform annual withdrawals from your retirement account $($first withdrawal will be in one year at age $66).$ Thinking of your $10$ grandchildren, you

decide that you would like to haverenough money left in your retirement account to leave each of them $$125,000.$ You will make your last withdrawal at age $85.$ The interest rate

earned by the retirement account 'remains at $10\%$ per year.

What uniform annual withdrawal $(66$ to $85)$ can you make from the retirement account such that there is enough money left at the end tn oive osoh