Question: show step by step EXTRA CREDIT: (3 extra points) You are 22 today and want to retire at the age of 60. Starting on your

show step by step show step by step EXTRA CREDIT: (3 extra points) You are 22

EXTRA CREDIT: (3 extra points) You are 22 today and want to retire at the age of 60. Starting on your retirement date you'd like to have a growing annuity ($10,000 payment at age 60, growing at 3%) for 25 years. Your uncle is giving you $10,000 for graduation this year. How much would you need to save today to finish funding this annuity? Interest rates are 7%

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