Marisa Gale, a 25-year-old personal loan officer at Second National Bank, understands the importance of starting...

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Marisa Gale, a 25-year-old personal loan officer at SecondNational Bank, understands the importance of starting early when itcomes to saving for retirement. She has designated $2,500 per yearfor her retirement fund and assumes she'll retire at age 65. Howmuch will she have if she invests in CDs and similar money marketinstruments that earn 6 percent on average? Round your answer tothe nearest dollar. $ How much will she have if instead she investsin equities and earns 10 percent on average? Round your answer tothe nearest dollar. $ Marisa is urging her friend, Nolan Ransom, tostart his plan right away because he's 40. What would his nest eggamount to if he invested in the same manner as Marisa and he, too,retires at age 65? Round your answer to the nearest dollar. Nestegg amount at 6% = $ Nest egg amount at 10% = $ Comment on yourfindings. Feedback

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FV of annuity The formula for the future value of an ordinary annuity as opposed to an annuity due is as follows P PMT x 1 r n 1 r See Answer

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Marisa Gale, a 25-year-old personal loan officer at SecondNational Bank, understands the importance of starting early when itcomes to saving for retirement. She has designated $2,500 per yearfor her retirement fund and assumes she'll retire at age 65. Howmuch will she have if she invests in CDs and similar money marketinstruments that earn 6 percent on average? Round your answer tothe nearest dollar. $ How much will she have if instead she investsin equities and earns 10 percent on average? Round your answer tothe nearest dollar. $ Marisa is urging her friend, Nolan Ransom, tostart his plan right away because he's 40. What would his nest eggamount to if he invested in the same manner as Marisa and he, too,retires at age 65? Round your answer to the nearest dollar. Nestegg amount at 6% = $ Nest egg amount at 10% = $ Comment on yourfindings. Feedback