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Calculate the amount must deposit each year

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Suppose you wish to retire forty years from today. You determine that you need RM50,000 per year once you retire, with the first retirement funds withdraw one year from the day you retire. You estimate that you will earn 6% per year on your retirement funds and that you will need funds up to 25 years after retirement.

Problem i) Calculate the amount you must deposit in an account today so that you have enough funds for retirement.

Problem ii) Calculate the amount you must deposit each year, starting one year from today, so that you have enough funds for retirement.

Reference no: EM132696328

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