(Answered) Anne wants to retire in 15 years and being optimistic she

Engineering

Anne wants to retire in 15 years and being optimistic she expects to live for a long time after that (assume forever). She estimates that she will need a total $100,000 per year after she retires. She will take the money out of her retirement account on a yearly basis starting at the beginning of the 16th year. Anne currently has $250,000 in her retirement account. If she can earn 5% per year on her retirement account, how much additional money would she have to save every year for the next 15 years to fund her retirement? Please show your work.

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