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John already has $10,125 in his savings account. He plans to make contributions of $1,633.65 at the end of every six months, until he reaches
John already has $10,125 in his savings account. He plans to make contributions of $1,633.65 at the end of every six months, until he reaches $62,700. The interest rate is 3.36% compounded annually. a) In how many years and months will he reach his goal? Round up to the next month. P/Y=N= He will reach his goal in A year(s) and A month(s). b) After John reaches $62,700, he wants to withdraw $1,800 at the start of each quarter. For how many years and months can he make the withdrawals? Round up to the next month. P/Y=N= He will withdraw for A year(s) and month(s) Page 16 of
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