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After graduating from college with a bachelor of business administration, you begin an ambitious plan to retire in 2 3 . 0 0 years. To
After graduating from college with a bachelor of business administration, you begin an ambitious plan to retire in years. To build up your retirement fund, you will make quarterly payments into a mutual fund that on average will pay APR compounded quarterly. To get you started, a relative gives you a graduation gift of $
Once retired, you plan on moving your investment to a money market fund that will pay APR with monthly compounding. As a young retiree, you believe you will live for more years and will make monthly withdrawals of $YOUR WITHDRAWALS ARE AT THE BEGINNING OF THE MONTH!!!! To meet your retirement needs, what quarterly payment should you make?
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