On your 30th birthday you deposit $10k in a retirement account paying 2% annually. You increase the deposits by $1000 per year each year. You make your final deposit on your birthday. That ame day,...


a. 51, 394


b. 51, 594


c. 51, 794


d. 51, 994


e. None of the above



On your 30th birthday you deposit $10k in a retirement account paying 2% annually.<br>You increase the deposits by $1000 per year each year. You make your final deposit<br>on your birthday. That ame day, you begin your withdrawals, such that you<br>withdraw $W on your 65th birthday, increasing your withdrawals by 4% each year<br>until your final withdrawal on your 85th birthday. At that point your savings have<br>been fully depleted. Find W. Within $100 of :<br>65th<br>

Extracted text: On your 30th birthday you deposit $10k in a retirement account paying 2% annually. You increase the deposits by $1000 per year each year. You make your final deposit on your birthday. That ame day, you begin your withdrawals, such that you withdraw $W on your 65th birthday, increasing your withdrawals by 4% each year until your final withdrawal on your 85th birthday. At that point your savings have been fully depleted. Find W. Within $100 of : 65th

Jun 03, 2022
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