Question: Hello, kindly. I need the right answer this is the third time asking for it. thank you Assume you are now 21 years old and

Hello, kindly. I need the right answer this is the third time asking for it. thank you

 Hello, kindly. I need the right answer this is the third

time asking for it. thank you Assume you are now 21 years

Assume you are now 21 years old and will start working as soon as you graduate from college. You pla retirement on your 25 th birthday and retire on your 65 th birthday. After retirement, you expect to li wish to be able to withdraw $50,000 (in today's dollars) every year from the time of your retirement 20 years). The average inflation rate is likely to be 5 percent. Problem 6.42(a) * Your answer is incorrect. Calculate the lump sum you need to have accumulated at age 65 to be able to draw the desired incor return on your investments is likely to be 10 percent. (Round answer to 2 decimal places, e.g. 15.25. Ro decimal places, e.g. 359400.312. Do not round factor values.) Lump sum amount accumulated at age 65 d and will start working as soon as you graduate from college. You plan to start saving for your y and retire on your 65th birthday. After retirement, you expect to live at least until you are 85 . You 000 (in today's dollars) every year from the time of your retirement until you are 85 years old (i.e., for rate is likely to be 5 percent. ed to have accumulated at age 65 to be able to draw the desired income. Assume that the annual ikely to be 10 percent. (Round answer to 2 decimal places, e.g. 15.25. Round intermediate value to 3 . Do not round factor values.)

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