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Assume that Jin Wei Wei has just retired with $1,000,000 in savings and an investment account. She expects to earn 10% per year on her

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Assume that Jin Wei Wei has just retired with $1,000,000 in savings and an investment account. She expects to earn 10% per year on her investments. Jin Wei Wei intends to withdraw 25% annually at the beginning of each year with interest credited on the remaining balance at the end of the year. a. Calculate the amount withdrawn at the beginning of the second year. b. Calculate the balance in the investment account at the end of the second year (prior to any withdrawals) c. Someone in the 15 percent tax bracket can earn 8% on his investments in a tax-exempt IRA account. What will be the value of a $10,000 investment after 5 years (assuming annual compounding)? d. Suppose Jin Wei Wei invested money in a taxable account earning 8% per year. What will be the after-tax value of a $10,000 investment after 5 years if she is in the 15% tax bracket (assuming annual compounding)

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