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5. When he turned 42, Jim started to contribute to his retirement account by making an annual deposit of $2500, which is matched by his
5. When he turned 42, Jim started to contribute to his retirement account by making an annual deposit of $2500, which is matched by his employer by 150% in an ordinary annuity bearing 9 % interest compounded semiannually a. How much will he have available for him when he retires at 65? b. should his (and his employer's) annual contribution be? Consider the same (r) and (n) of question# 5-a. c. Consider question #5-a, and suppose that Jim's contribution is S2000 but matched by his employer as double (two for one). Also suppose that Jim's goal is to accumulate half a million dollar in his IRA. At what age should his retirement be to achieve that goal, given that his account bears 10% interest compounded semiannually
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