part c only
value: 10.00 points birthday today withdraw $124,000 from her savings account on each birthday for 20 years following h withdrawal will be on her 66th birthday. Your friend intends to invest her money in a classic retirement problem. A time line will help in solving it. Your friend is celebrating her 30th and wants to start saving for her anticipated retirement at age 65. She wants to be able to t the first the local credit union, which offers 6.9 percent interest per year. She wants to make equal annual payments on each birthday into the account established at the credit union for her retirement fund. a. If she starts making these deposits on her 31st birthday and continues to make deposits until she is 65 (the last deposit will be on her 65th birthday), what amount must she deposit annually to be able to make the desired withdrawals at retirement? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. $ 9788.140 b. Suppose your friend has just inherited a large sum of money. Rather than making equal annual payments, she has decided to make one lump sum payment on her 30th birthday to cover her retirement needs. What amount does she have to deposit? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) $128128.3 c. Suppose your friend's employer will contribute $3,400 to the account every year as part of the company's profit-sharing plan. In addition, your friend expects a $174,000 distribution from a family trust fund on her 55th birthday, which she will also put into the retirement account. What amount must she deposit annually now to be able to make the desired withdrawals at retirement? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) $-2842827 Annual deposit amount value: 10.00 points birthday today withdraw $124,000 from her savings account on each birthday for 20 years following h withdrawal will be on her 66th birthday. Your friend intends to invest her money in a classic retirement problem. A time line will help in solving it. Your friend is celebrating her 30th and wants to start saving for her anticipated retirement at age 65. She wants to be able to t the first the local credit union, which offers 6.9 percent interest per year. She wants to make equal annual payments on each birthday into the account established at the credit union for her retirement fund. a. If she starts making these deposits on her 31st birthday and continues to make deposits until she is 65 (the last deposit will be on her 65th birthday), what amount must she deposit annually to be able to make the desired withdrawals at retirement? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. $ 9788.140 b. Suppose your friend has just inherited a large sum of money. Rather than making equal annual payments, she has decided to make one lump sum payment on her 30th birthday to cover her retirement needs. What amount does she have to deposit? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) $128128.3 c. Suppose your friend's employer will contribute $3,400 to the account every year as part of the company's profit-sharing plan. In addition, your friend expects a $174,000 distribution from a family trust fund on her 55th birthday, which she will also put into the retirement account. What amount must she deposit annually now to be able to make the desired withdrawals at retirement? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) $-2842827 Annual deposit amount
