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David has decided to retire once he has $ 1 , 5 0 0 , 0 0 0 in his retirement account. At the end
David has decided to retire once he has $ in his retirement account. At the end of each year, he will contribute $ to the account, which is expected to provide an annual return of How many years will it take until he can retire?
years
years
years
years
years
Suppose Davids friend, Ben, has the same retirement plan, saving $ at the end of each year and retiring once he hits $ However, Bens account is expected to provide an annual return of How much sooner can Ben retire?
years
years
years
years
years
After years, neither David nor Ben will have enough money to retire, but how much more will Bens account be worth at this time?
$
$
$
$
$
David is jealous of Ben because Ben is scheduled to retire before him, so David decides to make whatever endofyear contribution is necessary to reach the $ goal at the same time as Ben. If David continues to earn annual interest, what annual contributions must he make in order to retire at the same time as Ben?
$
$
$
$
$
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