Business, 28.04.2021 22:00, miller3009

Your older sister turned 35 today, and she is planning to save $7,000 per year for retirement, with the first deposit to be made one year from today. She will invest in a mutual fund that’s expected to provide a return of 7.5% per year. She plans to retire 30 years from today, when she turns 65, and she expects to live for 25 years after retirement, to age 90. Under these assumptions, how much money will she have when she retires and how much can she spend each year after she retires so that she will leave this earth with a zero balance in the account (assuming an equal amount will be withdrawn and spent each year? Her first withdrawal will be made at the end of her first retirement year

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Your older sister turned 35 today, and she is planning to save $7,000 per year for retirement, with...