Matthew inherited an annuity worth $2,587.09 from his uncle. The annuity will pay him three...
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Matthew inherited an annuity worth $2,587.09 from his uncle. The annuity will pay him three equal payments of $950 at the end of each year. What rate of return is the annuity fund offering? 5.00%6.75%4.35%5.90% Matthew's friend Wilson has hired a financial planner for advice on retirement. Considering Wilson's current expenses and expected future lifestyle changes, the financial planner has stated that once Wilson crosses a threshold of $920,925 in savings, he will have enough money for retirement. Wilson has nothing saved for his retirement yet, so he plans to start depositing $40,000 in a retirement fund at a fixed rate of 5.00% at the end of each year. How long will it take for Wilson to reach his retirement goal? 15.70 years 19.63 years 21.20 years 13.35 years
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