1. Other
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3. to supplement your retirement you estimate that you need to...

# Question: to supplement your retirement you estimate that you need to...

###### Question details

To supplement your​ retirement, you estimate that you need to accumulate ​$300,000 exactly 38 years from today. You plan to make​ equal, end-of-year deposits into an account paying 8 % annual interest. a. How large must the annual deposits be to create the ​$300,000 fund by the end of 38 ​years?

b.  If you can afford to deposit only ​\$1,150 per year into the​ account, how much will you have accumulated in 38 ​years?