Mathematics, 27.04.2021 20:20, lanaiheart7
1. Alberta is 23 years old and she plans to invest in annuity earning 10.5% compounded biweekly. She will save $145 from each biweekly(26 per year) paycheck. Use the TVM calculator or spreadsheet to determine how much money Alberta will have when she retires at age 67.
a. Will Alberta have enough money in her annuity to live until age 80? (Assuming she needs at least $90,000 per year) Show your math to prove your answer.
b. If she wants exactly $100,000 annually to live off of, at what age will her money run out?☹(round to the nearest whole year). Show your math to prove your answer.
Answers: 2
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1. Alberta is 23 years old and she plans to invest in annuity earning 10.5% compounded biweekly. She...
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