Solved by a verified expert :26. Nadine $348, and expects to earn 6 percent during her retirement years. How much can she withdraw is retiring at age 62 and expects to live to age 85. On the day she retires, she has 219 in her retirement saving account. She is somewhat conservative with her money rom her retirement savings each month if she plans to spend her last penny on the moming of her death? A. $1,609.92 B. $1,847.78 C. $1,919.46 D. $2,116.08 E. $2,329.05 27. Your grandmother is gifting you $100 a month for four years while you attend college to earn your bachelors degree. At a 5.5 percent discount rate, what are these payments worth to you on the day you enter college? A. $4,201.16 B. $4,299.88 C. $4,509.19 D. $4,608.87 E. $4,800.00 28. What is the future value of $1,200 a year for 40 years at 8 percent interest? Assume annual compounding? A. S301.115 B. S306,492 C. $310,868 D. $342,908 E. $347,267 29. Phil can afford $180 a month for 5 years for a car loan. If the interest rate is 8.6 percent, how much can he afford to borrow to purchase a car? A. $7,750.00 B. $8,348.03 C. $8,752.84 D. $9,266.67 E. $9,400.00
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