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Determine the present value of an annuity retirement

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Problem - Una Day is planning to retire in 20 years, at which time she hopes to have accumulated enough money to receive an annuity of $32,000 a year for 25 years of retirement. During her pre-retirement period she expects to earn 8 percent annually, while during retirement she expects to earn 10 percent annually on her money. What annual contributions to this retirement fund are required for Una to achieve her objective and sleep well at night? Determine the present value of an annuity retirement. Determine the annual deposit into an account earning 8% that is necessary to accumulate $290,464 after 20 years.

Reference no: EM132769907

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