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please not on excel this is all the info i have to the problem 2. Mrs. Raad is celebrating today her 38th birthday. She is
please not on excel
this is all the info i have to the problem
2. Mrs. Raad is celebrating today her 38th birthday. She is planning to retire when she is 64 years old. To maintain a certain living standard she wants each monthly retirement income to have the same purchasing power as $4,200 has today. Inflation is expected to be 175 percent monthly from today forward. She will get her first monthly retirement pay at the end of the month after she retires and the other retirement monthly pays at the end of each month thereafter until she is 82 years old. Today Mrs. Raad has $12,000 in her account at Byblos Bank. She wants to deposit an amount, which grows at 2 percent quarterly until she retires at 64. The first deposit will be made one quarter from today. This account expects to earn an 8 percent interest rate compounded quarterly until she retires and 9 percent compounded monthly thereafter. Determine the value of the deposit that Mrs. Raad will make one quarter from today Step by Step Solution
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