Anna just turned 55. She is planning to retire in 10 years, and she currently has...

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Anna just turned 55. She is planning to retire in 10 years, andshe currently has $500,00 in her 401k fund. She assumes that shewill live 20 years past her retirement age. During each of these 20years, she desires to withdraw $100,000 from her retirement fund.If the interest rate is 5% annually, how much will Anna have tosave per year for the next 10 years (from 55 to 64)? Assume thatthe first deposit to her retirement fund will be today, followed bynine more annual deposits, and that the annual withdrawals from age65 will occur at the beginning of each year. (excel withcalculations)

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Anna just turned 55. She is planning to retire in 10 years, andshe currently has $500,00 in her 401k fund. She assumes that shewill live 20 years past her retirement age. During each of these 20years, she desires to withdraw $100,000 from her retirement fund.If the interest rate is 5% annually, how much will Anna have tosave per year for the next 10 years (from 55 to 64)? Assume thatthe first deposit to her retirement fund will be today, followed bynine more annual deposits, and that the annual withdrawals from age65 will occur at the beginning of each year. (excel withcalculations)