Use the following information to answer questions 15-17 You want to retire in 35 years. To...

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Use the following information to answer questions 15-17 You want to retire in 35 years. To fund the retirement, you deposit $25,000 into an account now, and you deposit $20,000 five years from now. You also plan to save an equal amount each year between now and 35 years from now. Once you retire, you want to withdraw $85,000 at the end of each year for 25 years. r=6%. 35 |- Question 15: How much money must be in your account at the time of retirement to cover your retirement needs? You will need $ in the account in 35 years to cover your needs. Answer: Question 16: You need to save at the end of each year for the next 35 years $ per year. Answer: Question 17: How does your answer change is you earn 8% during your working years over the next 35 years, but only 6% once you retire You need to save at the end of each year for the next 35 years? $ per year. Use the following information to answer questions 15-17 You want to retire in 35 years. To fund the retirement, you deposit $25,000 into an account now, and you deposit $20,000 five years from now. You also plan to save an equal amount each year between now and 35 years from now. Once you retire, you want to withdraw $85,000 at the end of each year for 25 years. r=6%. 35 |- Question 15: How much money must be in your account at the time of retirement to cover your retirement needs? You will need $ in the account in 35 years to cover your needs. Answer: Question 16: You need to save at the end of each year for the next 35 years $ per year. Answer: Question 17: How does your answer change is you earn 8% during your working years over the next 35 years, but only 6% once you retire You need to save at the end of each year for the next 35 years? $ per year.