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Can someone help with the attached question? Many Thanks! 11. At the start of the year you decide to provide yourself with a retirement account.

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Can someone help with the attached question? Many Thanks!

image text in transcribed
11. At the start of the year you decide to provide yourself with a retirement account. You begin by depositing 100 into the account at the end of each month, and each year you increase this amount by 10%. Thus, for the rst year, you make 12 deposits of size 100. for the second year you make 12 deposits of size 110, for the third year you make 12 deposits of size 121, and so on. Suppose that you make these deposits for 35 years, upon which time you retire. Alter retirement, you will make an annual withdrawal from the account at the start. of each year [or the next 30 years, eventually exhausting all of the money in the account. Each withdrawal will he of equal size x. If the account gains interest at an annual nominal interest rate of 8% compounded monthly, and we assume that after 65 years, the account has a balance of zero, then find X. Round your answer\": two decimal piaca. Answer: . An annuity pays 1 at the start of each year for An years. Using an annual effective intert rate of i, the accumulatedfdiscounted value ofthe entire 4nyear annuity at time In is 637.72. If it is also known that t1+i)"=B.7384, then nd :7. Round your answer to the nearest whole number. AI'ISWEI'I . Bob buys a perpetuity at time t = 0 years for P. The perpetuity makes annual payments beginning at t = 8. The first payment is for 500. Each annual payment therealter is decreased by 10 until a payment of 200 is reached. Subsequent payments remain level at 200. If the annual Effective interest rate is 4%, nd the value of P. Round your answering the nearest whole number

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