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11) You won $1,200,000 today from Lotto 649! You decide to invest the money into your 4.75 % compounded quarterly (always) investment account for four
11) You won $1,200,000 today from Lotto 649! You decide to invest the money into your 4.75 % compounded quarterly (always) investment account for four years as you FINISH school. You will then retire in Florida and start receiving beginning of the month payments from your winnings (or investment account) for an expected 42 42 years. Assuming the rate is always the same, how large will those monthly payments be? (4 marks-total timeline is 46.5 years years-Deferred Annuity) 10a) How much is in your account in 4 years? 106) How large will your monthly payments (BGN) be after retirement over the 42.5 years
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