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A newscaster earns $29,100 and wants to invest 10% of his/her monthly salary to save for retirement in 25 years. If he/she invests this money
A newscaster earns $29,100 and wants to invest 10% of his/her monthly salary to save for retirement in 25 years. If he/she invests this money at 4.7% compounded monthly, how much money will he/she have at retirement? Round your answers to the nearest cent. a) How much will be saved each year? $_____________ b) What will be the monthly deposit? $______________ c) What will be the amount in the account after 25 years?
$____________
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