(Answered) A person wants to estabiish an annuity for retirement

Management Studies

A person wants to estabiish an annuity for retirement purposes. IIe wants to make quarterly'deposits for 20 years so that he can then make quarterly withdrawals of $5,000 for 10 years' The annuity earns 7.32% compounded quarterly

(A) How much will have to be in the account at the time the person retires?

(B) How much should be deposited each quarter for 20 years in order to accumulate the required amount?

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