Question
When jack started his job working for an industrial manufacturing company, he contributed $660 at the end of each quarter year into a savings account
When jack started his job working for an industrial manufacturing company, he contributed $660 at the end of each quarter year into a savings account that earned 2.5% interest compounded quarterly for 8 years. At the end of the 8th year, jack was laid off. To help meet family expenses, Jack withdrew $870 from the savings account at the end of each quarter year for 3 years. At the end of the third year of being unemployed, Jack found another job and started contributing $420 back into the savings account at the end of each quarter year for the next 6 years. How much money would be have in the account at the end of the 6 years ( after returning to work)? You may use the TVM solver. Show all necessary work that you need perform to arrive at the answer.
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