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1) At the age of 18, Andy makes a lump-sum investment of $22,000 in an account that compounds interest quarterly until he retires at the

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1) At the age of 18, Andy makes a lump-sum investment of $22,000 in an account that compounds interest quarterly until he retires at the age shown in the tables below. Fill in the blanks showing how much money will be in his account when he retires. Round answers to nearest hundred dollars. To make sure you are on the right track, the answer to 65 years old and 8.0% interest is $910,447.63 which, to the nearest hundred dollars, rounds to $910,400. Try it to make sure you get the same answer! (8 pts) Retirement age 7.0% 8.0% 8.5% 65 yrs old $910,400 67 yrs old 69 yrs old 2) Repeat part 1) for retirement at 67 yrs old if interest is compounded monthly. (3 pts) Retirement age 7.0%8.0%8.5% 67 yrs old

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