Wuturo valuo of a complex annuity) Springfield mogul Montgomery Burns, age 85, wants to rotire...
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Wuturo valuo of a complex annuity) Springfield mogul Montgomery Burns, age 85, wants to rotire at ago 100 so he can steal candy from babies full time. Once Mr. Burrs retres, he 15 equal end-of the-year deposits in this same special account that will pay a special offshore account that will pay 24 percent annially. In order fo fund his rotirement, Mr. Bums will make must he make to fund this retirement account? must he make to fund this retiroment account? a. If the retirement account will pay 24 peroent annualy, how much money will Mr. Bume need when he re6res? bilion (Round to three decimal places) b. How large of an annual deposit must he make to fund this retirement acoount? is million (Round to two decimal places.)
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