edna is 30 and plans to retire at 60. thats 30 years of saving for...
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edna is 30 and plans to retire at 60. thats 30 years of saving for retirement. edna will make a deposit into the retirement savings account once a year at the end of the year. each deposit will be the same amount. once she retired, edna will use the proceeds plus interest to live for 40 years with retirement pay of $200,000 at the end of each year. discount rate is 10% pv of ordinary annuity 10% for 30 yrs = 9.43 for 40 yrs = 9.78 fv of ordinary annuity 10% for 30 yrs = 164.49 for 40 yrs = 442.60 about what level of yearly deposit should edna make from age 30 to 60? a. $8917 b. $8596 c. $11891 d. 10000
once she retired, edna will use the proceeds plus interest to live for 40 years with retirement pay of $200,000 at the end of each year. discount rate is 10%
pv of ordinary annuity 10% for 30 yrs = 9.43
for 40 yrs = 9.78
fv of ordinary annuity 10% for 30 yrs = 164.49
for 40 yrs = 442.60
about what level of yearly deposit should edna make from age 30 to 60?
a. $8917
b. $8596
c. $11891
d. 10000
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