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Suppose someone wants to accumulate $110,000 for retirement in 30 years. The person has two choices. Plan A is a single deposit into an account
Suppose someone wants to accumulate $110,000 for retirement in 30 years. The person has two choices. Plan A is a single deposit into an account with annual compounding and an APR of 4%. Plan B s a single deposit into an account with continuous compounding and an APR o 3 %, How much does the person need deposit in each account in order to reach the goal? The person must deposit $into the account for Plan A to reach the goal of $110,000 Round to the nearest cent as needed.)
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