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Actuarial Statistics For a person's retirement in 30 years, this person plans to make monthly contributions of $25 to an ordinary annuity paying 8/5% annually,

***Actuarial Statistics***

For a person's retirement in 30 years, this person plans to make monthly contributions of $25 to an ordinary annuity paying 8/5% annually, compounded monthly.

a) Determine the total amount of his contributions.

b) Determine the single deposit now that will provide the same reitrement benefit.

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