You want to be able to withdraw $25,000 from your account each year for 15 years...

Transcribed Image Text:

You want to be able to withdraw $25,000 from your account each year for 15 years after you retire. If you expect to retire in 30 years and your account earns 5% interest while saving for retirement and 4% interest while retired: Round your answers to the nearest cent as needed. a) How much will you need to have when you retire? X $ 259491.45 277959.69 b) How much will you need to deposit each month until retirement to achieve your retirement goals? $ $ How much did you deposit into you retirement account? d) How much did you receive in payments during retirement? $ e) How much of the money you received was interest? $ EA You want to be able to withdraw $25,000 from your account each year for 15 years after you retire. If you expect to retire in 30 years and your account earns 5% interest while saving for retirement and 4% interest while retired: Round your answers to the nearest cent as needed. a) How much will you need to have when you retire? X $ 259491.45 277959.69 b) How much will you need to deposit each month until retirement to achieve your retirement goals? $ $ How much did you deposit into you retirement account? d) How much did you receive in payments during retirement? $ e) How much of the money you received was interest? $ EA