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neighbor has been investing $27,000 annually every year for the past ten years (his tenth was today). He expects to retire 20 years from today
neighbor has been investing $27,000 annually every year for the past ten years (his tenth was today). He expects to retire 20 years from today and he will continue to make a 2. Your deposit deposit every year (20 more deposits), but with an amount of $32,000 annually. In addition, he has a year-long, around-the-world vacation planned. He will leave in exactly eight years, and will not his customary $32,000 deposit on that day, nor will he make it the following year. Finally, on the day he leaves on his vacation he will withdraw $60,000 from his mutual fund. Assume the opportunity cost is 10.0% How much will be in his mutual fund one year after he retires? Suppose he wants to have $5 million on the day he retires how much must his annual deposit be in each of the next 20 years? novacation j a. b
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