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3.a) Josh wants to prepare for his future by investing in his pension. He saves $1000 every 6 months (semi-annually), starting on his 35th
3.a) Josh wants to prepare for his future by investing in his pension. He saves $1000 every 6 months (semi-annually), starting on his 35th birthday and puts it in a fund that pays 8% compounded semi-annually. How much will he have saved if he retires on his 55th birthday? (5 marks) b) How much interest will Josh earn on his investment? (3 marks) 4.a) Cassie's parents invest $12000 today at 12% compounded monthly, so she could have a monthly allowance and not have to work while she is in college for the next 3 years. How much will Cassie receive monthly? (5 marks) b) How much money did Cassie receive in total? (5 marks)
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