You decide to save $8000 per year from now on. You plan to retire in...
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You decide to save $8000 per year from now on. You plan to retire in 30 years time (a) How much will you have accumulated by then? The annual interest rate is 8%. Note: the first saving will start one year from today (b) If you live 20 years after retirement, what annual level of expenditure will those savings support?
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