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2. This is a classic retirement problem. A tirneline will help in solving it. Your friend is celebrating her 35l birthday today and wants to

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2. This is a classic retirement problem. A tirneline will help in solving it. Your friend is celebrating her 35l birthday today and wants to start saving for her anticipated retirement at age 65. She wants to be able to withdraw $125,000 from her savings account on each birthday for 20 years following her retirement; the first withdrawal will be on her 66th birthday. Your friend intends to invest her money in the local bank, which offers 7' percent interest per year. She wants to make equal annual payments on each birthday into the account established at the bank for her retirement fund. (4 points) (1) If she starts making these deposits on her 30\"1 birthday and continues to make deposits until she is 65 {the last deposit will be on her 65th birthday), what amount must she deposit annually to be able to make the desired withdrawals at retirement? (2) Suppose your friend has just inherited a large sum of money. Rather than making equal annual payments, she has decided to make one lump sum payment on her 35th birthday to cover her retirement needs. What amount does she have to deposit

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