You are trying to decide how much to save for retirement. Assume you plan to save $5,500 per year with the first investment made one year from now. You think you can earn 5% per year on your investments and you plan to retire in 33 years, immediately after making your last $5,500 investment.

e. Assuming the most you can afford to save is $1,100 per year, but you want to retire with $1,000,000.00 in your investment account, how high of a return do you need to earn on your investments?

You are trying to decide how much to save for refirement. Assume you plan lo save $5.500 per year wth the first investrnent made one yoar from now You think you can earn 5% per yoar on your imestments and you plan to retire in 33 years, immediately affer making your last \$5, 500 investment. a. How much will you have in your retirement account on the day you retire? b. If, instead of investing $5,500 per year, you wanted to make one lump-sum investment today for your reticement that wit resuit in the same retirement saving how much would that lump sum need to be? c. If you hope to five for 16 years in retirement, how much can you withdraw every yoar in retirement (starting one year after retirement) so that you wil just exhaust your savings with the 16 th withdrawal (assume your savings will continue to eaen 5% in retirementr? d. If, instead, you decide to withdraw $40,000 por year in retirement (again with the first withdrawal one year after retring). how maryy years wilt it take unti you exhaust your savings? e. Assuming the most you can afford to save is $1,100 per year, but you want to retire with $1,000,000,00 in your imvestment account, how high of a return do you need to earn on your investments