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Please calculate payments and show calculations in typed format Answer each of these unrelated questions. Be sure to show your calculations: (a) Serena would like

Please calculate payments and show calculations in typed format image text in transcribed
Answer each of these unrelated questions. Be sure to show your calculations: (a) Serena would like to retire in 30 years and wants to have $1,000,000 saved in her retirement account at that time. Assuming she earns a return of 8% on her retirement savings and makes one annual deposit into her account at the end of every year for 30 years, what must her annual deposit be in order to achieve her retirement goal? (b) Jordan purchased a used car for $4,000 and completely financed the purchase by signing a l-year loan agreement requiring monthly payments at the end of each month over the 1-year term. Assuming an annual interest rate of 12%, what would the monthly payment be for Jordan? (Note: You will need to use the interest tables at the end of the Ch. 6 Supplemental Materials Handout for this problem.)

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