You plan to retire in 9 years. Calculate whether it is better for you to save $28,000 a year for the last 6 years before retirement or $18,000 for each of the next 9 years. Assume you are able to earn 11 percent interest on your investments. Required: Which savings plan is preferred? (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) Note: Use appropriate factor(s) from the tables provided. Multiple Choice $28,000 for 6 years. $18,000 for 9 years.

You plan to retire in 9 years. Calculate whether it is better for you to save $28,000 a year for the last 6 years before retirement or $18,000 for each of the next 9 years. Assume you are able to earn 11 percent interest on your investments: Required: Which savings plan is preferred? (Euture Value of \$1. Present Volue of \$1. Euture Value Annuify of $1 Present Volue Annuify of $1 ) Note: Use appropriate factor(s) from the tables provided. Mutiple Choice $28.000 for 6 years. $18,000 for 9 years