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answer a,b, and c A person wants to establish an annuity for retirement. He wants to make quarter deposits for 35 years so that he
answer a,b, and c
A person wants to establish an annuity for retirement. He wants to make quarter deposits for 35 years so that he can then make quarterly withdraws of $11,000.00 for 15 years. The annuity earns 6.82% compounded quarterly. (a) How much will have to be in the account at the time he retires? Value of account at retirement: $ (b) How much should be deposited each quarter for 35 years in order to accumulate the required amount? Quarterly deposit: \$ (c) What is the total amount of interest earned during the 50 -year period? Total Interest Earned: \$ Step by Step Solution
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