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Hal Thomas Retirement Planning

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Solution Summary

The solution explains some calculations relating to retirement planning

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a. We have to calculate the future value of annuity. We use the FV of annuity formula
FV = PMT [(1+i)^n)-1]/i
Where
PMT = annual savings = $2,300
i = interest rate = 14%
n = time period = 60-35 = 25 years
FV of savings = 2,300 [(1+14%)^25)-1]/14%
FV of ...

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