document.write( "Question 1200836: a) Carter expects to live for 30 years more after his retirement. He would like to withdraw
\n" ); document.write( "$120,000 every year from his investment account (Account A) to pay for his living
\n" ); document.write( "expenses. Carter’s investment account (Account A) pays 5% interest per year.
\n" ); document.write( "How much money (a lump-sum) will Carter required to deposit in Account A at the beginning
\n" ); document.write( "of his retirement (at age 60) to pay for his living expenses if\r
\n" ); document.write( "\n" ); document.write( "(i) Account A start to pay interest one year after his retirement? (5 marks)
\n" ); document.write( "(ii) Account A start to pay interest on the day of his retirement? (5 marks)\r
\n" ); document.write( "\n" ); document.write( "[Hint: The total deposit that Carter made at the beginning of his retirement in Account A should
\n" ); document.write( "be the same as the amount required to provide for the monthly living expenses during his
\n" ); document.write( "retirement years.]
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Algebra.Com's Answer #835082 by ikleyn(52797)\"\" \"About 
You can put this solution on YOUR website!
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\n" ); document.write( "\n" ); document.write( "As I see from this post /(and from a series of other posts), somebody wants to harness the tutors,
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\n" ); document.write( "\n" ); document.write( "It is a bad way to use the tutors' intellectual power.\r
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\n" ); document.write( "\n" ); document.write( "We, the tutors, are here to teach you; not to perform your job.\r
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\n" ); document.write( "\n" ); document.write( "Think about it.\r
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