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Please solve using the finance solver on a calculator. Thank you. At age 21 Julio begins saving $1,400 each year until age 35 (15 payments)
Please solve using the finance solver on a calculator. Thank you.
At age 21 Julio begins saving $1,400 each year until age 35 (15 payments) in an ordinary annuity paying 6.4% annual interest compounded yearly and then leaves his money in the account until age 65 ( 30 years). His friend Max begins at age 41 saving $2,800 per year in the same type of account until age 65 (25 payments). How much does each have in his account at age 65? At age 65, Julio has $ in his account and Max has $ in his account. (Round to the nearest cent as needed.) Step by Step Solution
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