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Previous Question Creating a retirement fund Personal Finance Problem To supplement your retirement, you estimate that you need to accumulate $350.000 exactly 42 years from
Previous Question Creating a retirement fund Personal Finance Problem To supplement your retirement, you estimate that you need to accumulate $350.000 exactly 42 years from today. You plan to make equal, end-of-year deposits into an account paying 8% annual interest. a. How large must the annual deposits be to create the $350,000 fund by the end of 42 years? b. If you can afford to deposit only S910 per year into the account, how much will you have accumulated in 42 years? a. The annual deposits to create the $350,000 fund by the end of 42 years should be $ (Round to the nearest cent.) b. If you can afford to deposit only S910 per year into the account, by the end of 42 years you will have $ (Round to the nearest cent.)
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