Question
Cameron is saving for his retirement 23 years from now by setting up a savings plan. He has set up a savings plan wherein
Cameron is saving for his retirement 23 years from now by setting up a savings plan. He has set up a savings plan wherein he will deposit $129.00 at the end of every six months for the next 13 years. Interest is 9% 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?
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