Question: Personal Finance Problem P 5 - 4 4 Creating a retirement fund To supplement your retirement, you estimute that you need to accumulate $ 2

Personal Finance Problem
P5-44 Creating a retirement fund To supplement your retirement, you estimute that you need to accumulate $220,000 exactly 42 ycars from todyy. You plan to make equal, end-of-year deposits into an account paying 8% annual interest.
a. How large must the annual deposits be to create the $220,000 fond in 42 years?
b. If you can afford to deposit oely $600 per year into the account, how much will you have accumblated in 42 yrars?
Personal Finance Problem P 5 - 4 4 Creating a

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