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a ) Andrea, a self - employed individual, wishes to accumulate a retirement fund of $ 6 5 0 , 0 0 0 . How
a Andrea, a selfemployed individual, wishes to accumulate a retirement fund of$ How much should she deposit each month into her retirement account, which pays interest at a rate ofyear compounded monthly, to reach her goal upon retirementyearsfrom now? Round your answer to the nearest cent.
B The management of Gibraltar Brokerage Services anticipates a capital expenditure of$inyears 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 ofyear compounded quarterly, determine the size of each equal quarterly installment that should be deposited in the fund.
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