You are 30 years old and decide to start saving for your, Financial Management

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You are 30 years old and decide to start saving for your

You are 30 years old and decide to start saving for your retirement.

You plan to save $5,000 at the end of each year? (so the first deposit will be one year from? now), and will make the last deposit when you retire at age 66.

Suppose you earn 7% per year on your retirement savings.

a. How much will you have saved for? retirement?

b. How much will you have saved if you wait until age 32 to start saving? (again, with your first deposit at the end of the? year)?

a. How much will you have saved for? retirement?

The amount that you will have accumulated for retirement is $ ---------. (Round to the nearest? dollar.)

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