E Question 22, Instructor-... HW Score: 36.67%, 16.5 of 45 points O Points: 0 of 3...

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E Question 22, Instructor-... HW Score: 36.67%, 16.5 of 45 points O Points: 0 of 3 Save You have $29000 in a savings account. One year from now and every year thereafter for a total of 41 deposits, you will deposit $13000. Your money will earn 6% interest per year (annual compounding), and you wish to make annual withdrawals starting 42 years from now (one year after the last deposit) that grow at a fixed percentage rate. You want to plan for a never-ending sequence of withdrawals to fund your retirement and ensure that your lazy child (and future descendants) will never have to work. If the first withdrawal is to be $44000, how rapidly can the withdrawals grow? The growth rate is % (Report your answer to three decimal places, e.g., 1.402%.) ki at E Question 22, Instructor-... HW Score: 36.67%, 16.5 of 45 points O Points: 0 of 3 Save You have $29000 in a savings account. One year from now and every year thereafter for a total of 41 deposits, you will deposit $13000. Your money will earn 6% interest per year (annual compounding), and you wish to make annual withdrawals starting 42 years from now (one year after the last deposit) that grow at a fixed percentage rate. You want to plan for a never-ending sequence of withdrawals to fund your retirement and ensure that your lazy child (and future descendants) will never have to work. If the first withdrawal is to be $44000, how rapidly can the withdrawals grow? The growth rate is % (Report your answer to three decimal places, e.g., 1.402%.) ki at