Suppose that Kate is $45$ years old and has no retirement savings. She wants to begin saving for retirement, with the first payment coming one year from

now. She can save $$20,000$ per year and will invest that amount in the stock market, where it is expected to yield an average annual return of $5\mathrm{.}00\%$

return. Assume that this rate will be constant for the rest of her's life. In short, this scenario fits all the criteria of an ordinary annuity.

Kate would like to calculate how much money she will have at age $60.$

Use the following table to indicate which values you should enter on your financial calculator. For example, if you are using the value of $1$ for $N,$ use the

selection list above $N$ in the table to select that value.

Using a financial calculator yields a future value of this ordinary annuity to be approximately $$431,571\mathrm{.}27$grad at age $60.$

Kate would now like to calculate how much money she will have at age $65.$

Use the following table to indicate which values you should enter on your financial calculator. For example, if you are using the value of $1$ for $N,$ use the

selection list above $N$ in the table to select that value.

Using a financial calculator yields a future value of this ordinary annuity to be approximately

$\_$ at age $65.$

Kate expects to live for another $30$ years if she retires at age $60,$ with the same expected percent return on investments in the stock market.

She would like to calculate how much she can withdraw at the end of each year after retirement.

Use the following table to indicate which values you should enter on your financial calculator in order to solve for PMT in this scenario. For example, if you

are using the value of $1$ for $N,$ use the selection list above $N$ in the table to select that value.

Using a financial calculator, you can calculate that Kate can withdraw $,$ at the end of each year after retirement $($assuming retirement at

age $60),$ assuming a fixed withdrawal each year and $$0$ remaining at the end of her life.

Kate expects to live for another $25$ years if she retires at age $65,$ with the same expected percent return on investments in the stock market.

Use the following table to indicate which values you should enter on your financial calculator. For example, if you are using the value of $1$ for $N,$ use the

selection list above $N$ in the table to select that value.