FUTURE VALUE OF AN ANNUITY Your client is 21 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $15,000 per year, and you advise her to invest it in the stock market which you expect to provide an average return of 8% in the future If she follows your adi, how much money will she have at 657 Round your answer to the nearest cent b. How much will the pavet 707 Hound your wower to the nearest cent. c. She expects to live for 20 years if she retires at 65 and for 15 years in the retires at 70. If her investments continue to earn the same rate how much will she be able to withdraw at the end of each year after retirement at each retirement age? Round your answers to the nearest cent Annual withdrawals if she retires at 65: $ Annual withdrawals if she retires at 70 $ PRESENT AND FUTURE VALUES OF A CASH FLOW STREAM An investment will pay $150 at the end of each of the next 3 years, $250 at the end of Year 4, $300 at the end of Year 5, and $550 at the end of Year 6. a. If other investments of equal risk earn 6% annually, what is its present value? Round your answer to the nearest cent. 5 b. If other investments of equal risk earn 6% annually, what is its future value? Round your answer to the nearest cent. 5 PAYING OFF CREDIT CARDS Simon recently received a credit card with an 19% nominal Interest rate with the card, he purchased an ople iPhone 5 for $390. Thi mum payment on the card is 120 per month a. If Simon makes the minimum monthly payment and makes no other charges, how many months will inte before he pays off the card ontround intermediate calculations. Nound your answer to the nearest month months) b. 17 Simon makes monthly payments of $60, how many months will be before he pays off the debt? Do not found intermediate calculation, Round your answer to the nearest month month(s) How much more in total payments will Simon make under the $20-a-month plan than under the 560-a- month plan. Do not round intermediate calculations, Round your answer to the nearest cest