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You are a financial adviser working with a client who wants to retire in eight years. The client has a savings account with a local
You are a financial adviser working with a client who wants to retire in eight years. The client has a savings account with a local bank that pays 9% annual interest. The client wants to deposit an amount that will provide her with $1,000,000 when she retires. Currently, she has $300,000 in the account (FV of $1. P of $1. EVA of Si, and PVA of $0) (Use the appropriate factor(s) from the tables provided.) How much additional money should she deposit now to provide her with $1,000,000 when she retires? (Round your answer to nearest whole dollar.) Answer is complete but not entirely correct. Additional deposit amount $ 501.000 An investment will pay $15,000 at the end of each year for eight years and a one-time payment of $150,000 at the end of the eighth year. (FV of S1, PV of $1. FVA of $1, and PVA of $ (Use the appropriate factor(s) from the tables provided.) Determine the present value of this investment using a 7% annual interest rate (Round your answer to the nearest whole dollar) Answer is complete but not entirely correct. Present of investment $ 176,665
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