Question: Help Save & Exit Submit 1 5 0 Background Jenna is currently 2 0 years old and is planning for her retirement. She plans to

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Jenna is currently 20 years old and is planning for her retirement. She plans to retire at age 55, and receive an annual benefit payment (pension) of $100,000 for the following 25 years, i.e., until she is 80. If she wants her contributions over
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the next 35 years to grow at a rate of 5% per year, what must her first contribution (occurring one year from today) be? Assume a constant interest rate of 8%.
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 Help Save & Exit Submit 1 50 Background Jenna is currently

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