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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 self-employed individual, wishes to accumulate a retirement fund of$650,000. How much should she deposit each month into her retirement account, which pays interest at a rate of2.5%/year compounded monthly, to reach her goal upon retirement40yearsfrom now? (Round your answer to the nearest cent.)
B) The management of Gibraltar Brokerage Services anticipates a capital expenditure of$25,000in2years 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 of3%/year compounded quarterly, determine the size of each (equal) quarterly installment that should be deposited in the fund.

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