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( a ) If your friend s annual savings over the next seven years are deposited in an account that pays 6 % compounded annually
a If your friends annual savings over the next seven years are deposited in an account that pays compounded annually and the value of his real estate appreciates at the rate of per year, how much will he have upon retirement at age Disregard taxes.b Your friend expects to live to be that is he expects to live for years after retirement. If at age he deposits all his wealth in a saving account that pays annual interest, how much should he withdraw at the end of each year to end up with a zero balance in the year of his expected death?c Assume all the conditions in part b except that your friend wants to leave an estate of $ when he dies. How much can he draw out of the account each year after he reaches age
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