Question: Check my work Problem 5-57 Spreadsheet Problem (LG5-2,LG5-9) Consider a persn who begins contributing to a retirement plan at age 25 and contributes for 40
Check my work Problem 5-57 Spreadsheet Problem (LG5-2,LG5-9) Consider a persn who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. For the first ten years, she contributes $2.600 per year. She increases the contribution rate to $4,600 per year in years 11 through 20. This return of 8 percent. First compute the value of the retirement plan when she turns age 65. (Round your answer to 2 decimal places) s followed by increases to $9.600 per year in years 21 through 30 and to $14,600 per year for the last ten years. This money earns a ompute the annual payment she would receive over the next 40 years if the wealth was converted to an annuity payment at 7 ercent. (Round your answer to 2 decimal places.) nnual payment
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