Creating a retirement fund Personal Finance Problem to supplement your retirement, you estimate that you...
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Creating a retirement fund Personal Finance Problem to supplement your retirement, you estimate that you need to accumulate $220,000 exactly 45 years from today. You plan to make equal, end-of-year deposits into an account paying 8% annual interest a. How large must the annual deposits be to create the $220.000 fund by the end of 45 years? b. ll you can afford to deposit only $430 per year into the account, how much will you have accumulated in 45 years? a. The annual deposits to create the $220,000 tund by the end of 45 years should be $(Round to the nearest cent.) b. If you can afford to deposit only 5430 per year into the account, by the end of 45 years you will have $(Round to the poorest cont.)
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