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9) Chris is planning for her retirement at age 65. She assumes that i=6% for all of her calculations. a) Chris plans to save by

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9) Chris is planning for her retirement at age 65. She assumes that i=6% for all of her calculations. a) Chris plans to save by investing every January 1 starting with $4,000 in 2021 and increasing her deposit by $1000 every year. Find Chris' projected accumulated value on January 1, 2050. b) How much income will the projected accumulated value from part a) provide assuming that Chris buys a level 25-year annuity starting December 31, 2050? c) Chris wants to take her retirement income as a 25-year annuity starting at $X on December 31, 2050 and increasing by 2% every December 31. i) How large should X be based on her projected accumulated value on January 1, 2050. ii) How much will she receive from this annuity in 2058? 9) Chris is planning for her retirement at age 65. She assumes that i=6% for all of her calculations. a) Chris plans to save by investing every January 1 starting with $4,000 in 2021 and increasing her deposit by $1000 every year. Find Chris' projected accumulated value on January 1, 2050. b) How much income will the projected accumulated value from part a) provide assuming that Chris buys a level 25-year annuity starting December 31, 2050? c) Chris wants to take her retirement income as a 25-year annuity starting at $X on December 31, 2050 and increasing by 2% every December 31. i) How large should X be based on her projected accumulated value on January 1, 2050. ii) How much will she receive from this annuity in 2058

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