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Assume you want to retre early at age 53. You plan to save using one of the folowing two strategies (1) save $2,700 a
Assume you want to retre early at age 53. You plan to save using one of the folowing two strategies (1) save $2,700 a year in an IRA beginning when you are 28 and ending when you are 53 (25 years) or (2) wall until you are 41 to start saving and then save $5.625 per year for the next 12 years Assume you will ears the historic stock market average of 10% per year (Click the icin to view the tatare value armuty factor) Click the icon to view the present value annuity factor table) (Cick the icon to www the future value factor table Click the icon to view the present value factor table) Read thes Requirements 1. How much out of pocket cash will you invest under the two options? 2. How much savings will you have accumulated at age 53 under the two options? 3. Explain the results If you the savings continue to grow for nine more years with no further out-of-pocket investments), under each scenario what will the investment be worth when you are age 627 Print Done
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