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Assume you want to retire eaby af age 53. You plan to swe using one of the following teo strategies: (1) save $3,900 a year
Assume you want to retire eaby af age 53. You plan to swe using one of the following teo strategies: (1) save $3,900 a year in an ipu begining when you are 28 and ending when you are 5J (25. yoars) or (2) wat until you are 38 to start saving and then save 56 , 500 per year for the next 15 yearn. Assume you wil earn the historic stock market average of 14% per year (Click the icon io view the future value annuity tacior table (Click the icon to view the future value factor table.] (Cick the icon to view the present vidue aniuity tactor table) (Clck the icon to view the present value faclor tatle) Read the recurementa Requirement 1. How much ou-ot-pocket cash will you levest under the two optons? Calailate how ruuch out of-pocket cash you wili invest under the two optons Option 1
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