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4. + 0/1.42 points Previous Answers TanFin 11 5.3.031. 1/6 Submissions Used My Notes Andrea, a self-employed individual, wishes to accumulate a retirement fund of
4. + 0/1.42 points Previous Answers TanFin 11 5.3.031. 1/6 Submissions Used My Notes Andrea, a self-employed individual, wishes to accumulate a retirement fund of $300,000. How much should she deposit each month into her retirement account, which pays interest at a rate of 5.596/year compounded monthly, to reach her goal upon retirement 30 years from now? (Round your answer to the nearest cent.) $ 328.38 5. + 0/1.42 points Previous Answers TanFin 11 5.3.030. 1/6 Submissions Used My Notes The management of Gibraltar Brokerage Services anticipates a capital expenditure of $21,000 in 4 years for the purchase of new computers and has decided to set up a sinking fund to finance this purchase. If the fund earns interest at the rate of 296/year compounded quarterly, determine the size of each (equal) quarterly installment that should be deposited in the fund. (Round your answer to the nearest cent.)
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