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help (Complex annuity) Upon graduating from college 35 years ago, De. Nick Riviera was already thinking of retirement. Since then, he has made deposits into
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(Complex annuity) Upon graduating from college 35 years ago, De. Nick Riviera was already thinking of retirement. Since then, he has made deposits into his retrement fund on a monthly basis in the amount of \$100. Nick has just completed his final payment and is at last roady to retire. His retirement fund has oamed 10.5% interest compounded monthly. a. How much has Nick accumulated in his retirement account? b. In adofition to all this, 20 years ago, Nick recoived an inheritance check for $30,000 from his beloved uncle. Ho docided to deposit the entire amount into his retirement fund. What is his current balance in the fund? a. Since graduating from college 35 yoars ago, Dr. Nick Riviera has made deposits into his retirement fund on a monthly basis in the amount of $100. If his tetirement fund has eamed 10.5% inlerest compounded monthly, how much has Nck accumulated in his rotiroment account? (Round to the nesust cont) Step by Step Solution
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