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I only need question number 30 solved and i provided the answer please just write out the steps and explain (w/ nice handwriting please) 29.
I only need question number 30 solved and i provided the answer please just write out the steps and explain (w/ nice handwriting please)
29. As a single mother, Molly doesn't start saving for retirement until she's done raising her two children, at age 45. For the next 25 years, she invests $600 per month, at the beginning of each month, in an account that pays 8.4% interest, compounded monthly. At age 70, how much money will she have for retirement? 30. Refer to problem 29. If Molly had instead only saved $75 per month, at the beginning of each month, starting at age 20 (in the same interest bearing account), how much money would she have upon retire- ment at age 70? 30. $698,257.72Step by Step Solution
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