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1. You wish to retire after 18 years, at which time you want to have accumulated enough money to receive an annuity of $55,000 a

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1. You wish to retire after 18 years, at which time you want to have accumulated enough money to receive an annuity of $55,000 a year for 35 years of retirement. During the period before retirement, you can eam 4 percent annually, while after retirement you can eam 5 percent on your money. What annual contribution to the retirement fund will allow you to receive the $55,000 annually? Finding figure for either nominator or denominator; one point each and the result for 0.5 point (2.5 Points)

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