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Part (a) Compute the amount that a $60,000 investment today would accumulate at 9% (compound interest) by the end of 6 years. Support your answer

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Part (a) Compute the amount that a $60,000 investment today would accumulate at 9% (compound interest) by the end of 6 years. Support your answer with clearly labeled calculations. Part (b) Tom wants to retire at the end of 2022 . Tom has come to you, his trusted advisor, to learn how much he should deposit on December 31,2019 to be able to withdraw $40,000 at the beginning of each year from January 1, 2023, through January 1, 2042, assuming the amount on deposit will earn 8% interest annually. Support your answer with clearly labeled calculations. Part (c) Judy Thomas has a $2,800 overdue debt for medical books and supplies at Joe's Bookstore. She has only $900 in her checking account and doesn't want her parents to know about this debt. Joe's tells her that she may settle the account in one of two ways since she can't pay it all now: 1. Pay $900 now and $2,300 when she completes her residency, two years from today. 2. Pay $3,700 one year after completion of residency, three years from today. Assuming that the cost of money is the only factor in Judy's decision and that the cost of money to her is 10%, which alternative should she choose? Support your answer with clearly labeled calculations. Part (d) Johnetta Green established a savings account for her son's college education by making annual deposits of $10,000 at the beginning of each of six years to a savings account paying 7%. At the end of the sixth year, the account balance was transferred to a bank paying 9%, and annual deposits of $10,000 were made at the end of each year from the seventh through the tenth years. What was the account balance at the end of the tenth year? Support your answer with clearly labeled calculations

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