Question: Quiz #6 - Chapters 9 & 10 Question 1 (30 marks) Marcy Johnson is planning for her golden years. The details of her retirement plans

 Quiz #6 - Chapters 9 & 10 Question 1 (30 marks)

Quiz #6 - Chapters 9 & 10 Question 1 (30 marks) Marcy Johnson is planning for her golden years. The details of her retirement plans follow: Time until retirement (in years) 13 Expected life span after retirement (in years) 27 Annual planned withdrawl from retirement fun (at the beginning of the year) $ 64,000.00 Retirement savings already accumulated $ 20,000.00 Expected annual interest rate before retirement 9% Expected annual interest rate after retirement 11% How much does Marcy need to contribute to her retirement fund at the end of each year in order to fund her retirement

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