You decided to put away 4% of your annual salary for retirement Your annual salary...
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You decided to put away 4% of your annual salary for retirement Your annual salary is $23,000 for the first year (at age 24) and it increases by 4% every year until your retirement (at age 55). What will be the worth of your account when you retire if the interest is 6% ber year O a. $97,697.20 b. $135,485.09 c. $84 592.833 d. $161,569.85 e. $124,993.22 What is the nominal annual interest rate if the effective annual rate is 6.8% and compounding is continuous? a. 6.58% b. 6.08% C. 8.49% d. 6.45% Oe.7.20% An investment of $100,000 yields a net annual income of $17.000 at EOYT which decreases by $1,000 per year until EOY 10. What is the future equivalent of all cash flows a Boy 20 the interest is 7% per year? a $34.233 b. -$16,356 C-525,070 d.518,562 e $20.936
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