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Please answer the following questions: 2. Tina's grandmother deposited $1,000 in a savings account for her when she graduated high school. The money has been
Please answer the following questions:
2. Tina's grandmother deposited $1,000 in a savings account for her when she graduated high school. The money has been earning an annual rate of 12% interest compounded quarterly for the last ten years. She intends to tie the knot and would like to take her new honey-poo on a super sweet honeymoon. How much does she have in this account to use? 3. Jasonwill be retiring in four years and would like to buy a lakehouse with a great view to spend the day rocking in his rocking chair. He estimates that he will need $150,000 at the end of four years to buy this house. He wants to make four equal payments into an account at the end of each year. If he can earn 16% on his money, compounded annually, over the next four years, how much must he invest at the end of each year for the next four year to have accumulated $150,000 by retirement? CAMERA360 Step by Step Solution
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