A

$6\mathrm{.}89\%$ saves by retirement, this will become Jenna's PV at that age. Find payment

Step $1$: FV of saving from age $22$ until retirement

Step $2$: Annual withdrawal amount $($withdrawal$)$ Jenna gets each year in retirement.

$\backslash$table$[[,$Return on stock fund $(r,\%),],[$Inflation rate $(g),,],[$Step $2$:$,$Find FV at Retirement,$],[$Step $3$:$,$Jenna's first retirement withdrawal,$],[$Step $4,$Value of first retirement withdrawal in today's $$,]]$

Should Jenna sell her Treasury bond and invest the proceeds in the stock fund? Give at least one reason for and against this plan?

$9(12pts)$:

$\backslash$table$[[$Coca$-$Cola stock,$],[$Current Price,$],[$Annual Dividend,$],[$Dividend Growth,$],[$Expected Dividend in one year,$]]$