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how do I calculate this with a financial calculator. step by step 24 O Derek plans to retire on his 65th birthday. However, he plans
how do I calculate this with a financial calculator. step by step
24 O Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 70.00. During these years of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 70.0 when he fully retires, he will begin to make annual withdrawals of $187.036.00 from his retirement account until he turns 95.00. He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be? Assume a 4.00% interest rate. Submit Answer format: Currency: Round to: 2 decimal places #25 O Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 75.00. During these years of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 75.0 when he fully rotires, he will begin to make annual withdrawals of $175,897.00 from his retirement account until he turns 87.00. After this final withdrawal, he wants $1.20 million remaining in his account. He ho will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions bo? Assume a 8.00% interest rato. Submit Answer format: Currency: Round to: 2 decimal places. 220 Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 73.00. During these years of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 73.0 when he fully retires, he will wants to have $2,805,101.00 in his retirement account. He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be? Assume a 6,00% interest rate. Submit Step by Step Solution
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