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Question 16 5 pts You are 23 years old and decide to start saving for your retirement. You plan to save $ 6,000 at
Question 16 5 pts You are 23 years old and decide to start saving for your retirement. You plan to save $ 6,000 at the end of each year (so the first deposit will be one year from now), and will make the last deposit when you retire at age 65. Suppose you earn 10% per year on your retirement savings. How much will you have saved for retirement? 3,925,822 3,225,622 3,223,822 3,225,822 Question 15 5 pts A rich relative has bequeathed you a growing perpetuity. The first payment will occur in one year and will be $ 2,000. Each year after that, you will receive a payment on the anniversary of the last payment that is 8 % larger than the last payment. This pattern of payments will go on forever. If the interest rate is 12 % per year,what is today's value of the bequest? O 50,080 49,638 50,000 51,000
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