Question
ii. When Nina was thirty years old, she started to make a regular monthly deposits of RM 150 at the end of every month
ii. When Nina was thirty years old, she started to make a regular monthly deposits of RM 150 at the end of every month in an account that pays interest at 7% compounded every months. She planned to withdraw an amount of money every month for 10 years during her retirement time. If she decided to retire at the age of 50, determine the accumulated amount in her account when she reached the age. If immediately after her last deposit, Nina withdraws 10% of the accumulated value of her account, determine the amount that she can withdraw monthly from her account for the next 10 years.
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