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1. You deposit $125 a month starting one month from today in a savings account paying a stated or nominal rate of 6% with monthly

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1. You deposit $125 a month starting one month from today in a savings account paying a stated or nominal rate of 6% with monthly compounding. How much will you have in five years? a. b. How much will you have in five years if you start the deposits today? You must withdraw $125 a month starting one month from today from a savings account paying 6% with monthly compounding. 2. How much must you deposit today in order to make exactly 60 monthly withdrawals over five years? How much must you deposit today in order to make exactly 60 monthly withdrawals over five years if the withdrawals start today? a. b. 3. You deposit $125 a month starting one month from today in a savings account paying 6% nominal interest. How much will you have at the end of five years if the bank compounds semi-annually? How much will you have at the end of five years if the bank compounds quarterly? a. b

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