Jerry has $50,000 in his investment account today. He wants to retire in 28 years and expects to live for 24 years after retirement. To maintain his lifestyle during retirement, he will need $65,000 at the beginning of each year. He wants to start saving for his retirement by depositing money at the end of each year for the next 28 years. If the return, he can earn is 6.5% compounded annually while savings and 5.5% once he is retired. calculate how much he needs to deposit each year.

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Okay lets solve this stepbystep Retirement goal amount 65000 per year for 24 years after re... View the full answer