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Please do the question manually and show all of your work! The correct answer is not helpful without the steps. Please and many thanks!

Question 6 20 points You want to start saving for your retirement, which you expect 33 years from now. To do this, you will i

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Answer #1

Calculate the monthly payment as follows:

А 14 Particulars Amount 15 Stock fund $781,301.36 16 Bond fund $184,308.96 17 Future value $965,610.32 18 Monthly payment $5,

Answer: Option C.

Formulas:

A 14 Particulars 15 Stock fund 16 Bond fund 17 Future value 18 Monthly payment Amount =FV(5.5%/12,33*12,-700) =FV(2.5%/12,33*

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