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Question 9 (1 point) Carmen wants to accumulate $250,000 in her retirement fund by making month-end deposits of $300 for the next 25 years. What
Question 9 (1 point) Carmen wants to accumulate $250,000 in her retirement fund by making month-end deposits of $300 for the next 25 years. What monthly compounded nominal rate (12) must she earn in order to reach her goal? Express your answer as a percent to 2 decimal places but don't include the % sign. Your Answer: Answer Question 10 (1 point) Bernice would like a monthly retirement income of $2,500 per month (end of month payments) for 15 years during her retirement. In addition, she would also like a lump- sum payment of $10,000 on the day she retires to pay for a dream vacation. How much must she deposit into her retirement savings account at the end of each month in order to fund her retirement? Assume the account will earn 112=6% and that Bernice has 28 years until she retires. Your
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