MAS Holdings is an apparel manufacturer in Sri Lanka and has made a commitment to contribute to economic development while also improving the lives of employees, their families, and the community. More than 90 percent of the MAS employees are women, so MAS has built factories in rural areas with easy access so that women can work close to their homes and families. The given scenario illustrates the concept of .

You wish to retire in 13 years, at which time you want to have accumulated enough money to receive an annual annuity of $23,000 for 18 years after retirement. during the period before retirement you can earn 9 percent annually, while after retirement you can earn 11 percent on your money. what annual contributions to the retirement fund will allow you to receive the $23,000 annuity? use appendix c and appendix d for an approximate answer, but calculate your final answer using the formula and financial calculator methods.