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6 When Scott retires at 68, he will deposit his savings in an annuity fund which pays 5.4% p.a. interest compounded monthly. He wants
6 When Scott retires at 68, he will deposit his savings in an annuity fund which pays 5.4% p.a. interest compounded monthly. He wants to be able to withdraw $6000 per month from the fund until he is 85. a Calculate the amount Scott will need to have in savings when he retires. b How much money will be left in Scott's account when he is 80?
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Brief Calculus & Its Applications
Authors: Larry J Goldstein, David C Lay, David I Schneider, Nakhle I Asmar
13th Edition
0321888510, 9780321888518
