Question
when jack started his job working for an industrial manufacturing company he contributed $220 at the end of each month into his savings account that
when jack started his job working for an industrial manufacturing company he contributed $220 at the end of each month into his savings account that earned 2.2% interest compounded monthly for 6 years. at the end of the 6th year jack was laid off. to help meet family expenses jack withdrew $290 from the savings account at the end of each month for 1 years. at the end of the first year of being unemployed, jack found another job and started contributing $142 back into the savings account at the end of the six years.
A) how much money would he have in the account at the end of the six years (after returning to work) Use the TVM solver for this problem. Show all necessary work that you need perform to arrive at this answer.
B) Determine the total interest that jack earned during the 13 years of the account
Show all work necessary!!
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