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You have just graduated from George Brown College. Assume that you have just turned 20. You have started your first job and are thinking that
You have just graduated from George Brown College. Assume that you have just turned 20. You have started your first job and are thinking that you will need at least 2 million dollars for your retirement when you turn 65. FOR ALL QUESTIONS MOMENT DEPOSITS ARE MADE A.How much must you put away at the end of the month, if you can earn 6% compounded semiannually? B.If you can invest $500 at the beginning of the month, what is the nominal rate of interest if it is compounded quarterly required for this investment? C.If you can invest $500 at the end of the month, what is the nominal rate of interest if it is compounded monthly required for this investment? PLEASE SHOW ALL YOUR WORKING
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