Question: You are 22 years old and decide to start saving for your retirement. You plan to save $4,000 at the end of the first year

 You are 22 years old and decide to start saving for

You are 22 years old and decide to start saving for your retirement. You plan to save $4,000 at the end of the first year and then increase your savings by 3% per year until you make the very last deposit at age 65. Suppose you earn 6% per year on your retirement savings. How much will you have saved for retirement right at age 65? (Round to the nearest dollar.) Answer: A project costs $300 million and is expected to generate cash flows of $62 million per year, starting at the end of the first year and lasting forever. What is the internal rate of return? The internal rate of return is _. (Round to 3 decimal places. Do not put in percentage values.)

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