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2. You have just turned 30 years old and finally received your MBA degree. After passing principle of finance course, you got accepted to your
2. You have just turned 30 years old and finally received your MBA degree. After passing principle of finance course, you got accepted to your first job. Your employer told you that you must deposit annual payments of 9366.29 to your retirement plan at the end of each year. Assuming the retirement age is 65. You can't withdrawals until you retire on your sixty-fifth birthday. Assume the interest rate is 1% during that time (from age 30 to 100). a. How much money will you have in your retirement plan at your 65-birthday? b. Assume you plan to live until 100 years old and would like to have an equal income 1. How much money will you be able to withdraw every year from your retirement plan until "knocking on heaven's door" (death), starting at the end of first year of retirement and ending on your 100th birthday? 2. How much money will you be able to withdraw every year from your retirement plan until death, starting at the beginning of your retirement year and ending at the beginning of year 1007 each year
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