Question: PLEASE ANSWER FOR A THMBS UP Raphael, age 25, is starting his savings plan this year by putting away $2,362.50 at the end of every

PLEASE ANSWER FOR A THMBS UP
PLEASE ANSWER FOR A THMBS UP Raphael, age 25, is starting his

Raphael, age 25, is starting his savings plan this year by putting away $2,362.50 at the end of every year until he reaches age 65. He will deposit this money at his local savings and loan at an interest rate of 6%. The future value annuity interest factor is 154.7620. Based on the information provided by the time Raphael turns 65, he will have Susan, age 30, is starting her savings plan this year by putting away $2,362.50 at the end of every year until she reaches age 65. She will deposit this money at her local savings and loan at an interest rate of 6%. The future value annuity interest factor is 111.4348. Based on the information provided, by the time Susan turns 65, she will have more than Susan. By the time Raphael turns 65, he will Raphael started his investment program five years earlier and set aside have accumulated more than Susan

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