Business, 13.11.2019 00:31, josephcarriveau
Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. for the first ten years, she contributes $2,100 per year. she increases the contribution rate to $4,100 per year in years 11 through 20. this is followed by increases to $9,100 per year in years 21 through 30 and to $14,100 per year for the last ten years. this money earns a 10 percent return.
first compute the value of the retirement plan when she turns age 65. (round your answer to 2 decimal places.)
compute the annual payment she would receive over the next 40 years if the wealth was converted to an annuity payment at 9 percent. (round your answer to 2 decimal places.)
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Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 year...
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