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Bob invested $ 2 , 0 0 0 in an investment fund on his 2 1 st birthday. The fund pays 7 % interest compounded
Bob invested $ in an investment fund on his st birthday. The fund pays interest compounded semiannually. Bob is celebrating his th birthday today. Bob decides he wants to retire on his th birthday and he wants to withdraw $ per year, the first withdrawal on his th birthday and the last withdrawal on his th birthday. Bob expects to receive $ from his employer on his th birthday in recognition of his long service to the company. Assume Bob has not taken any money out of his investment fund since he initially funded it on his st birthday, and that he will deposit the $ from his employer into the investment fund on his th birthday. The investment fund will be used to pay for Bob's retirement.
If Bob makes no additional deposits into his investment fund, how much will be available for retirement at age
Since the amount in a is insufficient to meet his retirement goals, Bob decides to deposit equal annual amounts into the investment fund beginning on his st birthday and ending on his th birthday, so that he can meet his retirement goals. How much will each deposit be
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