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Francesca has approached you to assist with retirement planning. She would like to retire in 12 years, at which time she hopes to have accumulated
Francesca has approached you to assist with retirement planning. She would like to retire in 12 years, at which time she hopes to have accumulated enough money to receive an annuity of $27,000 a year for 17 years of retirement. - The pre-retirement interest rate is 8 percent annually - The retirement interest rate is 10 percent annually. Required: How much does Francesca need to contribute annually to save enough for retirement? (Use a Financial calculator/Excel to arrive at the answer. Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Annual contribution
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