Problem $6\mathrm{.}42($b$)$

Your answer is correct.

What is the dollar amount you need to invest every year, starting at age $25$ and ending at age $65($i$.$e$.,$ for $40$ years$),$ to reach the

target lump sum at age $65?($Round factor values to $4$ decimal places, e$.$g$.1\mathrm{.}5212$ and final answer to $2$ decimal places, e$.$g$.1,525\mathrm{.}12.)$

Investment needed to reach the target $,$$

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Problem $6\mathrm{.}42($c$)$

Now answer parts a$.$ and b$.$ assuming the rate of return to be $($i$)8$ percent per year, and $($ii$)15$ percent per year. $($Round answers to $0$

decimal places, e$.$g$.1,525.)$