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the curtis company has just hired smith, age 40. For defined benefit pension planning purpose, it is assumed smith will work 25 years. it is further...

the curtis company has just hired smith, age 40. For defined benefit pension planning purpose, it is assumed smith will work 25 years. it is further assumed she will live until 95. smith's starting salary is $50000 per year and this expected to increase 5% annually. CC's plan provides 1% of the final salary for each year of employment. what is CC's required annual contribution to fully fund smith's retirement benefits( assume an actuarial rate of return of 10% and end of year payments)?

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