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Your friend is celebrating her 3 5 th birthday today and wants to start saving for her anticipated retirement at age 6 5 . She
Your friend is celebrating her th birthday today and wants to start saving for her anticipated retirement at age She wants to be able to withdraw $ from her savings account on each birthday for years following her retirement; the first withdrawal will be on her th birthday. Your friend intends to invest her money in the local credit union, which offers interest per year. She wants to make equal annual payments on each birthday into the account established at the credit union for her retirement fund. a If she starts making these deposits on her th birthday and continues to make deposits until she is the last deposit will be on her th birthday what amount must she deposit annually to be able to make the desired withdrawals at retirement?
Present value of withdraw present value of saving
Withdraw every year
Rate
Period after retirement
Pva $
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