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Cameron is saving for his retirement 21 years from now by setting up a savings plan. He has set up a savings plan wherein he
Cameron is saving for his retirement 21 years from now by setting up a savings plan. He has set up a savings plan wherein he will deposit $146.00 at the end of every six months for the next 15 years. Interest is 6%compounded semi-annually.
(a) How much money will be in his account on the date of his retirement?
(b) How much will Cameron contribute?
(c) How much will be interest?
(a) The future value will be
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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