.Bob Smith recently completed his MBA and excepted a job with the computer company. To ensure that his retirement is comfortable he intends to invest $3000 of the salary into tax shelter retirement fund at the end of each year. That is us are going at the rate of return is, but knows that it is normally distributed with A mean of 13% and a standard deviation of 2%. if Bob is 30 years old, how much money would he expect to have when he is 60?
A) develop a computer simulation model to determine how much will be in his retirement fund after 30 years
B) use a data table to perform 200 runs of the simulation model developed in part(a)
C) compute the average amount the fun will be worth using the results from the 200 runs in the data table
D) obtain a histogram for the 200 run results. use at least 7 class intervals.
E) based on the stimulation results in the data table, estimate the probability that the funnel be more than $750,000 in the probability that the phone will be more than $1 million.
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