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Susan Is 25 and plans to retire at 65. That's 40 years of working life. She plans to have enough retirement savings to be able to withdraw $70,000 at the end of each year for 30 years. What annulty of deposits should she make from 25 to 65, to enable the withdrawal of $70,000 from 65 to 95? Here are some time-value-of-money figures: 30 years 40 years Figures from Tables are rounded, so pick the closest response. $6,805 O $40,204 O $6,226 6% PV of annuity FV of annuity 13.765 15.046 O $13,322 79.058 154.762

Susan Is 25 and plans to retire at 65. That's 40 years of working life. She plans to have enough retirement savings to be able to withdraw $70,000 at the end of each year for 30 years. What annulty of deposits should she make from 25 to 65, to enable the withdrawal of $70,000 from 65 to 95? Here are some time-value-of-money figures: 30 years 40 years Figures from Tables are rounded, so pick the closest response. $6,805 O $40,204 O $6,226 6% PV of annuity FV of annuity 13.765 15.046 O $13,322 79.058 154.762

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Susan Is 25 and plans to retire at 65. That's 40 years of working life. She plans to have enough retirement savings to be able to withdraw $70,000 at the end of each year for 30 years. What annuity of deposits should she make from 25 to 65, to enable the withdrawal of $70,000 from 65 to 95? Here are some time-value-of-money figures: 30 years 40 years Figures from Tables are rounded, so pick the closest response. $6,805 O $40,204 O $6,226 6% PV of annuity FV of annuity 13.765 15.046 $13,322 79.058 154.762
Transcribed Image Text:Susan Is 25 and plans to retire at 65. That's 40 years of working life. She plans to have enough retirement savings to be able to withdraw $70,000 at the end of each year for 30 years. What annuity of deposits should she make from 25 to 65, to enable the withdrawal of $70,000 from 65 to 95? Here are some time-value-of-money figures: 30 years 40 years Figures from Tables are rounded, so pick the closest response. $6,805 O $40,204 O $6,226 6% PV of annuity FV of annuity 13.765 15.046 $13,322 79.058 154.762
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