Question
When Alejandro started his job working as a video store rental manager, he contributed $822 at the end of each quarter into a savings account
When Alejandro started his job working as a video store rental manager, he contributed $822 at the end of each quarter into a savings account that earned 6.2 % interest compounded quarterly for 11 years. At the end of the 11th year, Jack was laid off as Netflix put his video store out of business. To help meet family expenses, Alejandro withdrew $920 from the savings account at the end of each quarter for 2 years. At the end of the second year of being unemployed, Jack moved to Africa and found another job as a safari guide. He started contributing $627 back into the savings account at the end of each quarter for the next nine years. How much money would he have in the account at the end of the final nine years after returning to work?
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