Question: Word Problem 1 3 - 1 8 ( Algo ) [ LU 1 3 - 3 ( 1 ) ] Bankrate.com reported on a shocking

Word Problem 13-18(Algo)[LU 13-3(1)] Bankrate.com reported on a shocking statistic: only \(55\%\) of workers participate in their company's retirement plan. This means that \(45\%\) do not. With such an uncertain future for Social Security, this can leave almost 1 in 2 individuals without proper income during retirement. Jill Collins, 25, decided she needs to have \(\$ 190,000\) in her retirement account upon retiring at 60. How much does she need to invest each year at 4\% compounded annually to meet her goal? (Please use the following provided Table.) Note: Do not round intermediate calculations. Round your answer to the nearest dollar amount. Each year investment
Word Problem 1 3 - 1 8 ( Algo ) [ LU 1 3 - 3 ( 1

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