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1. When Jack started his job working for an industrial manufacturing company, he con $240 at the end of each month into a savings account
1. When Jack started his job working for an industrial manufacturing company, he con $240 at the end of each month into a savings account that earned 2.3 % interest compounded monthly for 6 years. At the end of the 6th year, Jack was laid off. To help meet family expenses, Jack withdrew $250 from the savings account at the end of each month for 1 years. At the end of the first year of being unemployed, Jack found another job and started contributing $180 back into the savings account at the end of each month for the next five years. Do the following A. How much money would he have in the account at the end of the five years after returning to work)? Use the TVM Solver to solve this problem. Show all the necessary work that you need perform to arrive at the answer. (12 points) B. Determine the total interest that Jack earned during the 12 years of the account. (12 points)
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