Question
PLEASE ANSWER THE 2 QUESIONS IM STRUGGLING... I REALLY NEED HELP DUE IN A FEE MINS Derek plans to retire On his 65th birthday. However,
PLEASE ANSWER THE 2 QUESIONS IM STRUGGLING... I REALLY NEED HELP DUE IN A FEE MINS
Derek plans to retire On his 65th birthday. However, he plans to work part-time until he turns 75.00. During these years Ot part-time work, ho will neither make deposits to nor take Withdrawals from his retirement account. Exactly one year after the day he turns 75,0 when he fulVy retires. he will boqin to make annual withdrawals 01 S126.S32.OO from his retirement account until he turns He he will make cryntributions to his rctiroment account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be? Assurne a 10.00% interest rate. Answer format: Currency; Round to: 2 decimal Derek to retire on his 65th birthday. to Work part-time until he 71.00. During these years Of work. ho mako to nor witndrawaVs his Exactly ono after the day ho turns 71.0 when he fully roti'os, ho will boon to mako annual withd'awals of frorn his account until he tuff'S After 'his Withdrawal. ho million in his HO will mako contributions to his accoi_mt from 26th to his 65th b'"hday. To roach his goal what tho 009 a 8.00% Answer format: Currency; Round to: doom-a' places.
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