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savings at 10% until she depletes her funds. (ClicktheicontoviewPresentValueof$1table.)(ClicktheicontoviewFutureValueof$1table.)(ClicktheicontoviewPresentValueofOrdinaryAnnuityof$1table.)(ClicktheicontoviewFutureValueofOrdinaryAnnuityof$1table.) Read the requirements. Requirement 1. How much money does Gretchen need now to fund her travels?
savings at 10% until she depletes her funds. (ClicktheicontoviewPresentValueof$1table.)(ClicktheicontoviewFutureValueof$1table.)(ClicktheicontoviewPresentValueofOrdinaryAnnuityof$1table.)(ClicktheicontoviewFutureValueofOrdinaryAnnuityof$1table.) Read the requirements. Requirement 1. How much money does Gretchen need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 10% interest rate, Gretchen needs whole dollar.) With a 4% interest rate, Gretchen would need If Gretchen's savings are earning a lower interest rate (4\%), she will need to save to be able to withdraw $31,000 per year. Reference Reference Present Value of Ordinarv Annuitv of $1 Future Value of Ordinary Annuity of $1 Requirements 1. How much money does Gretchen need now to fund her travels? 2. After speaking with a number of banks, Gretchen learns she will only be able to invest her funds at 4%. How much does she need now to fund her travels
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