Question
(Please type answers with formulas and financial calculator) You have decided to start saving for your retirement. You will start at the end of this
(Please type answers with formulas and financial calculator) You have decided to start saving for your retirement. You will start at the end of this year and you will be able to save $2,000 a year for 10 years and $5,000 a year for the next 15 years after that. When you have finished with this period you will still have 10 years left until you retire. Before you retire you feel that you will earn 10% interest per year. After you retire you will become more conservative and will only earn 7%. If you want to withdraw from your account for 25 years during your retirement, how much will you be able to withdraw each year so nothing is left at the end?
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