Q10

Jasdeep plans to deposit $150 at the beginning of each month for 20 years.

If the account earns 7.2% compounded monthly for the first 12 years and 6% compounded monthly thereafter, how much will be in her account at the end of the 20 years?

Q11

April would like a retirement income of $3,000 per month (beginning of month payments) for 32 years once she retires.

How much must she have in her retirement account on the day she retires if the account can earn 3.6% compounded monthly?