Question: Q . 2 ( 2 . 0 marks ) Procrastination can have significant financial implications, especially when it comes to saving for retirement. Consider this

Q.2(2.0 marks) Procrastination can have significant financial implications, especially when it comes to saving for retirement. Consider this scenario: Imagine you begin making \(\$ 3,000\) annual contributions to your retirement fund starting at age 25 and earn an \(7\%\) return on investment. If you plan to retire by age 60, by the time you retire, you'll have accumulated a substantial sum \( F \).1) Calculate the accumulated amount \( F \).2) Now, if you have the goal of saving the same amount by the time of retirement, how much would be the required annual contributions if you start saving: a. At age 30 and retire at age 60? b. At age 35 and retire at age 60? c. At age 40 and retire at age 60?
Q . 2 ( 2 . 0 marks ) Procrastination can have

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