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Please help. I have the answer but don't know how they got to it. Please fill in the full answer. Thank you! Since the starting
Please help. I have the answer but don't know how they got to it. Please fill in the full answer. Thank you!
Since the starting her professional career with 25 Anna each month pays 200 into a saving plan to increase her pension. The yearly interest rate lies at 1.4%. At 40 she additionally starts to put 100 per month into an investment fund that yields 5.8% per year. Both savings are realized in by the beginning of each month. When she reaches the age of 65 both savings plans are paid out into a common account with a yearly interest rate of 1.1%. Out of this account for 35 years, by the beginning of each month she is paid out a fixed monetary amount. a) (6 Points) How much money has she saved by the beginning of her pension payments with 65? b) (4 Points) What is the monthly rate that she is paid each month during the last 35 yearsStep by Step Solution
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