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Marquel's employer contributes $$1,250$ semi$-$annually to his retirement account, which earns $11\%$ interest that is compounded

monthly. How much money will be in his retirement account at the end of $45$ years?

Click here to access the TVM Factor Table calculator.

$

million

Do not round your interim calculations and then round your final answer to $3$ decimal places. Please enter your answers in millions

of dollars. The tolerance is $+-0\mathrm{.}007.$

Marquel's employer contributes $$1,250$ semi$-$annually to his retirement account, which earns $11\%$ interest that is compounded

monthly. How much money will be in his retirement account at the end of $45$ years?

Click here to access the TVM Factor Table calculator.

$

million

Do not round your interim calculations and then round your final answer to $3$ decimal places. Please enter your answers in millions

of dollars. The tolerance is $+-0\mathrm{.}007.$

Hint

Assistance Used

First determine the values of $m$ and $k$ to determine the appropriate interest rate per cash flow period. Please use the hint in the new picture i attached $!$