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As part of your retirement planning, you purchase an annuity that pays 5.75% annual interest compounded quarterly a. If you make quarterly payments of $1600

As part of your retirement planning, you purchase an annuity that pays 5.75% annual interest compounded quarterly

a. If you make quarterly payments of $1600 how much will you have saved in 5 years?

b. Instead, if you make quarterly payments of $800, how much will you have saved in 10 years?

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