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PLEASE(show the steps and equations!(not just factor form)) (don't write using excel) Question 2.10 (10pts) On her 30th birthday, a teacher decides to start saving
PLEASE(show the steps and equations!(not just factor form)) (don't write using excel)
Question 2.10 (10pts) On her 30th birthday, a teacher decides to start saving toward building up a retirement fund that pays 10% interest compounded monthly (market interest rate). She feels that $250,000 worth of purchasing power in today's dollars will be adequate to see her through her sunset years after her 60th birthday. Assume an annual general inflation rate of 6%. If she plans to save by making 120 equal quarterly deposits in actual dollars, what should be the amount of each quarterly deposit in actual dollars? A) $192.29 B) $195.91 C) $1,02.25 D) Answers A, B and C are not correctStep by Step Solution
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