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Your pension plan is an annuity with a guaranteed return of 5.5% per year (compounded quarterly). You can afford to put $1,500 per quarter
Your pension plan is an annuity with a guaranteed return of 5.5% per year (compounded quarterly). You can afford to put $1,500 per quarter into the fund, and you will work for 37 years before retiring. After you retire, you will be paid a quarterly pension based on a 25-year payout. How much will you receive each quarter? (Round your final answer to the nearest dollar.) Type your answer...
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