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pls show work step by step Today is Dorek's 25th birthday. Derek has been advised that he needs to have $9,871,410.00in his retirement account the
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Today is Dorek's 25th birthday. Derek has been advised that he needs to have $9,871,410.00in his retirement account the day he turns 65 . He estimates his retirement account will pay 5.005 interest. Assume he chooses not to deposit anything today. Pather he chooses to make annual deposits into the retirement account starting on his 30.00 th birthday and ending on his 65th birthday. How much must those deposits be? Answer format: Currency: Round to: 2 decimal places. Derek can deposit $11,000 on each birthday beginning with his 26 th and ending with his 65 th. What will the rate on the retirement account need to be for him to have $3,000,000 in it when he retires on his 65 th birthday? Answer format: Percentage Round to: 4 decimal places (Example: 9.2434\%, \% sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434)) Step by Step Solution
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