Question $7,$ P$5-48($similar

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HW Score: $0\%,0$ of $16$ points

Part $1$ of $2$ Points: $0$ of $1$

Creating a retirement fund Personal Finance Problem To supplement your retirement, you estimate that you need to accumulate $$290,000$ exactly $45$ years from today. You plan to make equal, end$-$of$-$year deposits into an account paying $9\%$ annual interest.

a$.$ How large must the annual deposits be to create the $$290,000$ fund by the end of $45$ years?

b$.$ If you can afford to deposit only $$440$ per year into the account, how much will you have accumulated in $45$ years?

a$.$ The annual deposits to create the $290,000$ fund by the end of $45$ years should be $ $($Round to the nearest cent.$)$Solve a and b