Question: Could you please explain HOW to solve these questions, thank you! :) You have determined that you will need at least 3 500 000 SEK

Could you please explain HOW to solve these questions, thank you! :)Could you please explain HOW to solve these questions, thank you! :)

You have determined that you will need at least 3 500 000 SEK in private pension savings when you retire in 50 years. You plan to set aside a series of payments every year in an account yielding 8% per year to reach this goal. You will put the first payment in the account a year from today. a. If you make the same payments every year, what would your yearly payment be? Answer in SEK amount with two decimals (i.e. 508123.44). 6100.00 SEK b. Assume now that your first payment would be 8 000 and that the payments would increase with 4% per year as your salary increases. What would be the new balance in your pension account after 50 years? Answer in million SEK with two decimals (i.e. 3.45, not 3 450 000). 7.96 million SEK c. Assume as in b. a first yearly payment of 8000 and yearly increase of the amount of 4%. What would be the final payment into this pension account be? Answer in SEK amount with two decimals (i.e. 508123.44). 54666.79 SEK

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