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Question 4. Upon graduating from college 35 years ago, Ahmad is planning for his retirement. Since then, he has made $300 deposits into a retirement
Question 4. Upon graduating from college 35 years ago, Ahmad is planning for his retirement. Since then, he has made $300 deposits into a retirement fund on a quarterly basis. Ahmad has just completed his final payment and is at last ready to retire. His retirement fund has earned 9 % compounded quarterly. a. How much has Ahmad accumulated in his retirement account? b. In addition to this, 15 years ago Ahmad received an inheritance check for $20,000 from his beloved uncle. He decided to deposit the entire amount into his retirement fiund. What is his current balance in the fund? (10 Marks)
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