Question: Please solve quick please 7. Your friend is celebrating her 25th birthday today and 200.000drwaay intois retirement at age 65. She wants to be able

Please solve quick please
 Please solve quick please 7. Your friend is celebrating her 25th

7. Your friend is celebrating her 25th birthday today and 200.000drwaay intois retirement at age 65. She wants to be able to withara he first we each birthday for 15 years following her retirement; in a retires on eaetreme birthday. Your friend intends to invest her m her anticipated her 66 which earns wants to start saving for r saving account on he will be on t withdrawal en account f year. She wants to make equal annual dn on the t account, or her retirement fund, Assume that the annua 8 percent before and afer her retirement. Ignore taxes and day and cotintal for the prdeposits e starts making these deposits on her 26th birthday and co total number o desired transaction costs for the problem. until she is 65 (the last deposit will be on her 65th birthat b able n her 65th birthday and the total number of annual annually to be able to make the desired problem is to first find the continue to make deposits deposits is 40), what amount must she deposit ann withdrawals at retirement? (Hint: One way to solve for this per year for 15 years that she needs to make from value on your friend's 65th birthday of the $200,000 withdraw after her retirement and then find the equal annual deposit her 26th to 65th birthday.) ) Suppose that whenever your friend makes the annual deposit to the retirement her employer will contribute $2,000 to the same account every year as part company's profit sharing plan. In addition, your friend will receive a $30,000 distributio from a family trust fund on her 25th birthday, which she will also put into the retiremen account. What amount must she deposit annually now to be able to make the desired withdrawals at retirement

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!