Joslyn is celebrating her 30th birthday today. When she was 20 years old, she took a Business Finance class which has inspired her to save money annually in her retirement fund. Starting from her 21st birthday, she has been saving $5,000 every year and her account has earned an annual return of 6%. Today she just made her 10th deposit. a) How much is the current balance in her retirement account? b) Joslyn plans to continue to make annual deposit of $5000 on each birthday. After making her last deposit on her 50th birthday, she will retire and travel around the world. How much will she have in her account when she retires, assuming her retirement account continue to earn 6% annual return? c) Starting from her 51st birthday, Joslyn plans to withdraw the same amount from the retirement account annually until she turns 80, by which time the account is depleted. Whats the annual amount she can withdraw if the account continue to earn 6% annual return? d) If, instead, Joslyn wants to withdraw $50,000 annually from the account, how many years can she do so until the account is depleted? (Assume the account continues to earn an annual return of 6%.)

Joslyn is celebrating her 30^th birthday today. When she was 20 years old, she took a Business Finance class which has inspired her to save money annually in her retirement fund. Starting from her 21^st birthday, she has been saving $5,000 every year and her account has earned an annual return of 6%. Today she just made her 10^th deposit.

1. How much is the current balance in her retirement account?

2. Joslyn plans to continue to make annual deposit of $5000 on each birthday. After making her last deposit on her 50^th birthday, she will retire and travel around the world. How much will she have in her account when she retires, assuming her retirement account continue to earn 6% annual return?

3. Starting from her 51^st birthday, Joslyn plans to withdraw the same amount from the retirement account annually until she turns 80, by which time the account is depleted. Whats the annual amount she can withdraw if the account continue to earn 6% annual return?

4. If, instead, Joslyn wants to withdraw $50,000 annually from the account, how many years can she do so until the account is depleted? (Assume the account continues to earn an annual return of 6%.)