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Annie recently started a new job with the Slim Tings Co. as a senior manager and is just trying to catch up on having money
Annie recently started a new job with the Slim Tings Co. as a senior manager and is just trying to catch up on having money for retirement. Slim Tings Co. offers her a pension plan with an annuity that is guaranteed to earn 12% interest compounded annually. She plans to work for 28 years before retiring and would then like to be able to draw an income of $658,000.00 per annum for 21 years. How much must be deposited per annum into her retirement fund to accomplish this? Question 6Answer a. $35,530.25 b. $25,000.00 c. $26,092.43 d. $45,510.64
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