Part 1

Assume that 25 years ago your dad invested $260,000, plus $26,000 in years 2 through 5, and $47,000 per year from year 6 on.

At a very good interest rate of 13% per year, determine the CC value.

The CC value is determined to be $__________

Part 2

Required information Assume that 25 years ago your dad invested $260,000, plus $26,000 in years 2 through 5, and $47,000 per year from year 6 on. Determine the annual retirement amount that he can withdraw forever starting next year (year 26), if the $47,000 annuity stopped at year 25. The interest rate being 13% per year. The annual retirement amount is determined to be $ 950835.48 X