Question: How to do this step by step 1. You will make deposits of $1,100 at the beginning of each year for 35 years in your

How to do this step by step How to do this step by step 1. You will make deposits

1. You will make deposits of $1,100 at the beginning of each year for 35 years in your investment account. The first payment will be made today. After 35 years, you will immediately withdraw all money from the account to buy a retirement annuity for 20 years with equal annual payments (paid at year-end). If the annual rate of return over the entire period (55 years) is 5%, how much is the annual payment you will receive after retirement? a $7,972.29 b. $8,370.90 c. $9.540.58 d. $7,579.78 I e. $5,069.41

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