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Q4. You are a 25 years old young professional. Your financial advisor suggests a retirement plan according to which you would save 15,000 QAR annually

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Q4. You are a 25 years old young professional. Your financial advisor suggests a retirement plan according to which you would save 15,000 QAR annually during 35 years. Deposits of the 15,000 QAR should be done at the end of each year with an annual interest rate of 4%. a. What is the final amount you would get at the end of your 60th year when you retire? b. What is the equivalent amount of that saving plan today? c. If you want to retire at 55 years old (i.e. you want to work 30 years instead of the 35 years), what would be the annual payment that would allow you to reach the same objective (i.e. same present value of the saving plan)? Assume the same 4% of annual interest rate will apply. d. What if you want to retire at 50 years old? Compute the annual payment that would allow you to do so while keeping the same quality of life during your retirement

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