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please help with math! You want to be able to withdraw $40,000 from your account each year for 15 years after you retire. If you
please help with math!
You want to be able to withdraw $40,000 from your account each year for 15 years after you retire. If you expect to retire in 20 years and your account earns 5.9% interest while saving for retirement and 5.5% interest while retired: Round your answers to the nearest cent as needed. a) How much will you need to have when you retire? $ b) How much will you need to deposit each month until retirement to achieve your retirement goals? $ c) How much did you deposit into you retirement account? $ d) How much did you receive in payments during retirement? $ e) How much of the money you received was interest? $ You decide to contribute to a mutual fund that averages 4.7% return per year. If you contribute $300 quarterly. Round all answers to the nearest cent as needed. a) How much will be in the account after 20 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $
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