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o provide a retirement annuity for its Vice President of Research, Jill Garza. exactly 12 years. Upon retirement, she is entitled to receive an annual

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o provide a retirement annuity for its Vice President of Research, Jill Garza. exactly 12 years. Upon retirement, she is entitled to receive an annual end-of- she dies prior to the end of the 20-year period, annual payments will pass to Sunrise Industries wishes to accumulate funds a re year payment of $44,000 for exactly 20 years. If her heirs. pr ior to t During the 12-year "accumulation period" Sunrise Oncethe 20-year "disbursement period" begins, Sunrise plans to move the accumula guaranteed 8% per year. At the end of the distribution period, the account balance will be fund se wishes to fund the annuity by making equal, annual, end-of-year deposits zero. Note that the first de the end of Year 13. posit will be made at the end of Year 1 and that the first distribution payment will be received at Assignment (Possible points in parentheses.) ., PV, PMT, FV, when used, in order to earn partial credit despite wrong final solutions picting all of the cash flows associated with Sunrise's view of the retirement annuity. Be sure to identify Report inputs: N, 1. Draw a timeline de the accumulation period, disbursement period, interest rates, known cash flows, annuity cash flows, a (7 points) nd timing of each

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