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PLEASE ANSWER ASAP Emma is 32 years old, and she wants to retire when she is 55 . She is thinking about saving for her
PLEASE ANSWER ASAP Emma is 32 years old, and she wants to retire when she is 55 . She is thinking about saving for her retirement. The interest rate on her saving account is 4.12%. Emma would like to retire with at least $1.5 million in her account. (a) If Emma wants to put an equal amount of money into this account every year, how much does she need a year? ( 5 pts) (b) If Emma wants to put an equal amount of money into this account every quarter, how much does she need a quarter? ( 5pts ) (c) If Emma wants to put an equal amount of money into this account every month, how much does she need a month? (5 pts) (d) EXTRA CREDIT: Emma thinks she can live until 90 years old. With $1.5 million at retirement and equal withdrawal every year, how much can she withdraw each year? Assume the interest rate stays the same. (5 pts)
PLEASE ANSWER ASAP
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