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(1 point) A person wants to establish an annuity for retirement. He wants to make monthly deposits for 25 years so that he can then

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(1 point) A person wants to establish an annuity for retirement. He wants to make monthly deposits for 25 years so that he can then make monthly withdraws of $3,600,00 for 10 years. The annuity earns 7.14% compounded monthly (a) How much will have to be in the account at the time he retires? Value of account at retirement: $ 308136,588 (b) How much should be deposited each month for 25 years in order to accumulate the required amount? monthly deposit:$ 372.029 (c) What is the total amount of interest earned during the 35-year period? Total Interest Earned: $ 298069.4504

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