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Instructions: Write a complete solution to the financial problem below. You must show the formulas and calculations which generate your answer (write the exact expressions,
Instructions: Write a complete solution to the financial problem below. You must show the formulas and calculations which generate your answer (write the exact expressions, no decimal approximations, round only the final answer). You may reference the list of financial formulas. (Check your work with a calculator or TVM solver.) An answer only without any written calculations will receive no credit. All dollar amounts should be accurate to + $0.02 The requirements for full credit are to correctly: 1) Draw a timeline for the problem with clearly labeled markers 2) List the relevant parameters for each timeframe. 3) Identify the applicable formula for each timeframe (you can use our abbreviations here). 4) Write out your calculations so that someone with a scientific calculator is able to verify your results. #2- Mathematics of Finance (10 pts) A 45-year-old man puts $3,000 in a retirement account at the end of each quarter until he reaches the age of 65, then makes no further deposits (and takes no withdrawals). If the account continues to earn 7% interest compounded quarterly, a) How much will be in the account when the man retires at age 70? b) How much total interest will the account have earned up to retirement
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