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Konstantin has been saving for retirement for 15 years by depositing $850.00 at the end of each quarter into an account paying 5.45% compounded monthly.
Konstantin has been saving for retirement for 15 years by depositing $850.00 at the end of each quarter into an account paying 5.45% compounded monthly. Now he wants to start withdrawing his money at the rate of $4344.97 at the end of each quarter. a) How much money does he have in his account right now? b) How many periods until he no longer has enough money in his account to make that withdrawal
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