Your client is 31 years old. She wants to begin saving for retirement, with the first payment to come one year from now.

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answerhappygod
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Your client is 31 years old. She wants to begin saving for retirement, with the first payment to come one year from now.

Post by answerhappygod »

Your client is 31 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $9,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 7%
in the future.
If she follows your advice, how much money will she have at 65?
Do not round intermediate calculations. Round your answer to the
nearest cent.
$
How much will she have at 70? Do not round intermediate
calculations. Round your answer to the nearest cent.
$
She expects to live for 20 years if she retires at 65 and for 15
years if she retires at 70. If her investments continue to earn the
same rate, how much will she be able to withdraw at the end of each
year after retirement at each retirement age? Do not round
intermediate calculations. Round your answers to the nearest
cent.
Annual withdrawals if she retires at 65: $
Annual withdrawals if she retires at 70: $
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