Question: Solve the following problems involving annuity functions. 3) Solve the following problems involving annuity functions. a) Claire is planning for her retirement and estimates that

Solve the following problems involving annuity functions.

Solve the following problems involving annuity functions. 3) Solve the following problems

3) Solve the following problems involving annuity functions. a) Claire is planning for her retirement and estimates that she will need retirement savings total of $1.8 million on her 55th birthday. She plans to fund this by making annual deposits on each birthday up to and including her 55th and estimates that she can earn 6% interest. Find her minimum annual deposit if she starts them on her 30th birthday. b) Claire decides to invest $X from age 30-50, and $2X starting at age 51. How much should X be to meet her goal? c) A loan for $16,000 is to be repaid with 6 annual payments of $2850 with the first payment made today. Find the effective rate of discount d charged on the loan to the nearest 14%. na

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