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Rebecca would like to set up an account to supplement her parents retirement income for the next 15 years. (a) If the account earns 7.2%
Rebecca would like to set up an account to supplement her parents retirement income for the next 15 years. (a) If the account earns 7.2% compounded monthly, how much will Rebecca have to deposit today so that her parents are paid $150 at the end of each month? (b) How much much will she have to deposit today if her parents wanted to receive the $150 at the beginning of each month?
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