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Andrea s parents deposited $ 1 0 0 , 0 0 0 at age 8 into Bank A that pays 5 % / year interest
Andreas parents deposited $ at age into Bank A that pays year interest compounded semiannually. At age they withdrew the money to use $ of it for college expenses and deposited the rest into Bank B that pays year interest compounded continuously until she graduates at age She gets hired upon graduation and to get to work she buys a $ car by using all the money in Bank B as down payment and making quarterly payments for the loan that charges year interest for years. The moment her car loan is amortized she decides to open an account in Bank C that pays year interest and she deposits $ every month until age when she buys a $ house by using all the money in Bank C as down payment and securing a year mortgage with year interest compounded monthly. Andrea retires at age and sells her house for $ If Andrea adds her equity on top of her retirement account that pays year compounded monthly that she wants to withdraw $ every month until age then how much she needs to deposit monthly into her retirement account that pays year interest during her employment? AND what was the size of her car payments?
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