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1. Barry Cuda currently has $25,000 in his Roth IRA which has been earning 8%. Barry is planning on depositing $5500 annually for the next 40 years into this IRA. Assuming Barry's IRA continues earning 8% annually, what will Barry's IRA be worth at the end of 40 years? 1. Bob Katz would like to save $350,000 over the next 25 years. If Bob knows today that he will be given $100,000 in 10 years as part of an inheritance, how much would Bob need to save annually over the next 25 years assuming he earns 7% interest? 1 points 1. Bob Katz is purchasing a new Honda Pilot for $35,000. He is financing $32,000 with a six year, 4% loan with annual payments. Construct an amortization schedule, in the 2nd year row, corresponding to his second annual payment, what is the dollar amount of the principal reduction? 1 point 1. Ella Funt would like to set up her retirement account that will begin in 30 years. To play it safe, she wants to assume that she will live forever and she will withdraw $160,000 annually. Assuming her account will earn 10% interest during the next 30 years and 6% interest afterwards forever, how much will Ella need to save annually over the next 30 years to fund her retirement account? Regarding the present value of an annuity, the present value of an annuity due will always be worth more compared to the present value of an ordinary annuity. True False 1 points