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SOLVE PART B PLS You are currently 23 years old. You started working in a job and will retire at the age of 60. Answer
SOLVE PART B PLS
You are currently 23 years old. You started working in a job and will retire at the age of 60. Answer the following questions based on the pension plan that you will develop: A. If the monthly interest rate is 1.1%, when should you start saving (after how many months from now) EGP 1,500 per month to receive EGP 12,000 per month after you retire for 25 years? B. If you are willing to save EGP 100 per month in the pension plan to receive EGP 14,000 per month after you retire for 25 years, what will be the required monthly interest rate to achieve it? c. If you save EGP 90 per month, starting now, in the pension plan that pays an interest rate of 1.1%, how much can you withdraw monthly after you retire foreverStep by Step Solution
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