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Please use the following information for the next two questions. George is 30 years old. He wants to begin saving for retirement, with the first
Please use the following information for the next two questions. George is 30 years old. He wants to begin saving for retirement, with the first payment to come one year from now. He can save $12,000 per year, and his financial advisor advises him to invest in the stock market, which the financial advisor expects to provide an average return of 15% in the future. (Hint: It's similar to the Assigned End-of-Chapter Questions Q5-19 and discussed in Q&A Session 4 (July 22nd).) If George follows his financial advisor's advice, how much money will he have at 65? O $11,230,621.08 $23,220,743.81 $17,561,320.90 $10,574,041.87 Question 14 (3.57 points) George expects to live for 20 years after he retires at 65. If his investments ocntinue to earn the same rate, how much will he be able to withdraw at the end of each year after his retirement at 65? $3,709,780.18 $2,805,622.45 $1,689,324.48 $1,794,220.54
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