Annuity Values on Any Date
Boyan is saving for her retirement. How much money will she accumulate by her 65th birthday based on the following saving patterns:
a) Saving $25,000.00 on each birthday starting on her 57th57th birthday and ending on her 64th birthday (inclusive), with i=4.7%
AV =
b) Saving $1,000.00 per month starting one month after her 35th35th birthday and ending on the day of her 52th birthday(included), with i(12)=2.4%
AV =