Kathy johnson is 30 years old today and beginning to save, Ask an Expert

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Kathy Johnson is 30 years old today and beginning to save for her retirement. She would like to set aside an equal amount at the end of each of the next 30 years so that she can retire at age 60. She expects to live until age 85 and wants to be able to withdraw $45,000 from her 61st to 85th birthday. The account is expected to earn a 10% per year for the entire period of time. Determine the size of the annual deposits to be made.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92763808

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