Jeanette expects to live 30 years after she retires. At the end of the first year of her retirement, she wants to withdraw $35,000 from her savings. Each year thereafter, she wants to increase her annual withdrawal by 3.5 percent. If she can earn 5.5 percent on her savings, how much does she need to have in retirement savings on the day she retires?

$862,001.34

$764,458.87

$832,004.01

$648,909.18

$919,028.56

You need some money today and the only friend you have that has any is your 'miserly' friend. He agrees to loan you the money you need, if you make payments of $20 a month for the next six months. In keeping with his reputation, he requires that the first payment be paid today. He also charges you 1.5% interest per month. How much total interest does he expect to earn?

$5.96

$1.34

$4.35

$3.63

$3.94

Jeanette expects to live 30 years after she retires. At the end of the first year of her retirement, she wants to withdraw $35,000 from her savings. Each year thereafter, she wants to increase her annual withdrawal by 3.5 percent. If she can earn 5.5 percent on her savings, how much does she need to have in retirement savings on the day she retires? $862,001.34 $764,458.87 $832,004.01 $648,909.18 $919,028.56 You need some money today and the only friend you have that has any is your 'miserly' friend. He agrees to loan you the money you need, if you make payments of $20 a month for the next six months. In keeping with his reputation, he requires that the first payment be paid today. He also charges you 1.5% interest per month. How much total interest does he expect to earn? $5.96 $1.34 $4.35 $3.63 $3.94