Use Excel. (PV, FV, or PMT)

3) Ryan Knight, age 21, saves X amount at the end of each year for the next 34 years as a part of his retirement plan that pays 9% annual interest. Once the 34 deposits are made, Ryan lets his account accumulate interest but waits to withdraw until he retires. Ryan retires when he is 65 and decides to withdraw equal amounts of $145,000 (lives a lavish life) for the next 17 years, at the beginning of each year, at which time he'll have no money left. How much money should Ryan invest every year for 34 years in order to live that lavish life? Annual Withdrawal from Paycheck Consider the following Cash Flow diagrams, where indicates a deposit (positive cash flow) and indicates a withdrawal (negative cash flow): $4120 CASH FLOW A $2500 $2400 $2040 4 5 6 8 9 10 11 $200 $200 $200 $1250 $1172 CASH FLOW B X X X X X 5 6 9 10 11 What is the value of an equal annual payment, $x, that would make the net value of Cash Flow diagrams A and B the same? Assume that i=8% X=