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11. Retirement account tabulation. You have a retirement account into which your employer invests $75 at the end of every month, and the account pays
11. Retirement account tabulation. You have a retirement account into which your employer invests $75 at the end of every month, and the account pays an APR of 5.25% compounded monthly. a. Fill in the following table. (Don't use the regular deposits balance formula.) At end of month number Interest paid on prior balance Deposit Balance 1 2 3 4 b. Use the regular deposits balance formula (Formula 4.8) to determine the balance in the account at the end of four months. Compare this to the final balance in the table from part a. c. Use the regular deposits balance formula to determine the balance in the account at the end of four years. d. Use the regular deposits balance formula to determine the balance in the account at the end of 20 years
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