You are 30 years old today. You wish to retire at age 65. How much money...

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You are 30 years old today. You wish to retire at age 65. Howmuch money must you deposit at the end of each year so that whenyou retire at age 65, you will be able to withdraw $2,500 at theend of each month until age 85?
Assume you can earn interest at the rate of 5.5% compoundeddaily during the entire period from age 30 to 85.
I do not understand at all, so if you could walk me through itpretty well, it would be much appreciated. Thanks

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You are 30 years old today. You wish to retire at age 65. Howmuch money must you deposit at the end of each year so that whenyou retire at age 65, you will be able to withdraw $2,500 at theend of each month until age 85?Assume you can earn interest at the rate of 5.5% compoundeddaily during the entire period from age 30 to 85.I do not understand at all, so if you could walk me through itpretty well, it would be much appreciated. Thanks