Question: A month from now, you plan to begin saving for your retirement by depositing $1,000 into a new savings account that has an expected return

A month from now, you plan to begin saving for your retirement by depositing $1,000 into a new savings account that has an expected return of 6.75% compounded weekly. You plan to continue depositing the same amount each month until you retire in 30 years. You expect to make withdrawals from your savings account every year for 45 years after you retire. Assume you were asked to find the amount you will be able to withdraw each year from your savings account during your retirement. In your solution, you would need to find the future value of your savings account at your retirement date by using the annuity future value equation. What interest rate would you use in this equation?

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