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18 Derek decides that he needs $108,138.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $108138.0 on each birthday
18 Derek decides that he needs $108,138.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $108138.0 on each birthday from his 66th to his 88.00th. How much will he need in his retirement account on his 65th birthday? Assume a interest rate of 5.00%. Atten Submit Answer format: Currency: Round to: 2 decimal places. #9 What is the value today of a money machine that will pay $4,139.00 per year for 29.00 years? Assume the first payment is made 5.00 years from today and the interest rate is 9.00% Submit Attem Answer format: Currency: Round to: 2 decimal places. 210 A bank offers 6.00% on savings accounts. What is the effective annual rate if interest is compounded monthly? Submit Attem Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434) 111 After being drafted in the first round of the NFL draft, a star defensive end invests his signing bonus of $9,034,000.00 in a mutual fund. The fund pays on average 6.00% APR. The player will not touch this money until he retires from the league in 13.00 years. How much will this "nest egg" be worth at retirement? Submit Answer format: Currency: Round to: 2 decimal places. 112 Category Prior year Current year
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