Megan and Nancy each want save $250 000 for their retirement 40 years. a) Nancy begins...
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Megan and Nancy each want save $250 000 for their retirement 40 years. a) Nancy begins her regular deposits immediately. How much must she deposit end 12% per year compounded annually achieve her goal? each year b) Megan decides the wait 10 years before she starts her regular deposits. What annual make? deposit does she need c) Compare Megan and Nancy's total deposits. How much less does Nancy deposit by starting early? marks) Megan and Nancy each want save $250 000 for their retirement 40 years. a) Nancy begins her regular deposits immediately. How much must she deposit end 12% per year compounded annually achieve her goal? each year b) Megan decides the wait 10 years before she starts her regular deposits. What annual make? deposit does she need c) Compare Megan and Nancy's total deposits. How much less does Nancy deposit by starting early? marks)
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a To calculate the amount that Nancy needs to deposit each year to save 250000 in 40 years with a 12 ... View the full answer
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