Please I need quick response and explanation no plagiarism please Susan Is 25 and plans to retire at 65. That's 40 years of working life. She plans tohave enough retirement savings to be able to withdraw $70,000 at the end of eachyear for 30 years. What annuity of deposits should she make from 25 to 65, to enablethe withdrawal of $70,000 from 65 to 95?Here are some time-value-of-money figures:30 years40 yearsFigures from Tables are rounded, so pick the closest response.$6,805O $40,204O $6,2266%PV of annuity FV of annuity13.76515.046$13,32279.058154.762

Time until Retirement = tur = 40Time after Retirement = tar = 30Annual Withdraw after Retirement = w…

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

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 10P

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