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9: You want to save for your retirement, but you have zero savings now. To...

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9: You want to save for your retirement, but you have zero savings now. To live comfortably, you will need to have $4,000,000 saved by your 67th birthday. Suppose that today (May10th) is your 30th birthday. d. Suppose you do NOT plan to make monthly payments for your retirement, but you still want to have $4,000,000 by age 67, how much would you need to have in your account today if your savings earned 4% APR, compounded annually? e. Now suppose that, because your income will increase over your lifetime, you decide instead to save a smaller amount one year from today and then let your annual savings deposit grow by 3% each year, still hoping to accumulate $4,000,000 by your 67th birthday. How much must you put into your account one year from today? Continue to assume your savings earn 4% stated as an APR with annual compounding. Hints: Use your answer to part d. to help you answer parte

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