Ben is planning a ground-breaking ceremony for the company's new headquarters in charlotte, north carolina. he has a limited budget. if he rents air-conditioned tents, he will go over budget. he thinks he could ask one of the business units to cover the expense. if everyone is sweating through their suits while they eat at the reception, the day might be a failure, even if everything else runs smoothly. ben is at which step in rational decision making?

You wish to retire in 13 years, at which time you want to have accumulated enough money to receive an annual annuity of $23,000 for 18 years after retirement. during the period before retirement you can earn 9 percent annually, while after retirement you can earn 11 percent on your money. what annual contributions to the retirement fund will allow you to receive the $23,000 annuity? use appendix c and appendix d for an approximate answer, but calculate your final answer using the formula and financial calculator methods.