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6. When he turned 42, Jim started to contribute to his retirement account by making an annual deposit of $2500, which is matched by his
6. 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 ANNUITY DUE account bearing 9 72 % interest compounded semiannually. a. How much will he have available for him when he retires at 65? b. If Jim wishes to have a total of $600,000 in his IRA when he retires, How much should his (and his employer's) annual contribution be? Consider the same (r) and (n) of question# 5-a. c. Consider question #6-a, and suppose that Jim's contribution is $2000 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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