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The company Mr. Z works for will deposit $600 at the end of each month into his retirement fund. Interest is compounded monthly. Mr. Z

The company Mr. Z works for will deposit $600 at the end of each month into his retirement fund. Interest is compounded monthly. Mr. Z plans to retire 15 years from now and estimate that he will need $2,000 per month out of the account for the next 20 years (after retirement). If the account pays 8.0% APR compounded monthly, how much does Mr. Z need to put into the account in addition to his company deposit in order to meet his objective?

A $0.00

B $57.59

C $90.99

D $95.88

E $104.49

If you deposit $2,500 at the end of each six months into an account which offers an APR of 5.5% interest compounded quarterly, how much will be in the account in 5 years?

A$13,953

B$16,931

C $26,605

D$28,357

E$32,188

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