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Congrats! You just won the Engineering Economy lottery! Your award will be: A starting sum of $ 8 0 , 0 0 0 at the

Congrats! You just won the Engineering Economy lottery! Your award will be: A starting sum of $80,000 at the end of year 1, with yearly increases of 4% each year! Given your financial expertise, you plan on opening a retirement account, where you will deposit 15% of your winnings each year for the next 30 years. Keep in mind, your retirement account has an annual interest rate of 8.20%.
a) How much money will be in your retirement account at the end of 30 years? (Hint: this is a geometric gradient problem)
b) How much can you withdraw from that account each year in retirement for 15 years? Assume you will withdraw the same amount each year. (Hint: this is a uniform annuity problem)

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