Question: QUESTION 9 Drew currently has nothing saved for his retirement which will start in 4 years from today. Drew wants to receive 574.000 each year
QUESTION 9 Drew currently has nothing saved for his retirement which will start in 4 years from today. Drew wants to receive 574.000 each year for 7 years during retirement. The first of these 7 payments will be received in 4 years from today. Drew can earn a return of 6.2 percent per year in his account. How much does Drew need to save each year for 4 years to have exactly enough to meet his retirement goal if he makes his first annual contribution to savings today and all savings contributions are equal? a. 572.474 (plus or minus 510) b. 593.485 (plus or minus 510) c588.027 (plus or minus 510) d. 599.281 (plus or minus 510) e. None of the above is within 510 of the correct
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