on 10 t red d out of 2 question Path: R Mr Magoo plans to retire in exactly 40 years. As his fund manager at Old Mutual Inc., your goal is to create a fund that will allow him to receive R8 000 000 at the end of the 40 years when he retires. You know that he will be able to earn 8% per year during the 40-year period leading to retirement. How much will he need to save per year in order to provide the R8 000 000 retirement annuity? (2) Paragraph Time left 2:29:10 BI

Me Magoo plans to retire in exactly 40 years. As his fund manager at Old Mutual inc, your goal is to create a fund that will allow him to receive R8 000000 at the end of the 40 years when he retires. You know that he will be able to earn 8% per year during the 40 -year period leading to retirement. How much will he need to save per year in order to provide the R8 000000 retirement annuity? (2)