Question: 1. When Jack started his job working for an industrial manufacturing company, he contributed $420 at the end of each quarter into a savings account
1. When Jack started his job working for an industrial manufacturing company, he contributed $420 at the end of each quarter into a savings account that earned 4.4% interest compounded quarterly for 7 years. At the end of the 7th year, Jack was laid off. To help meet family expenses, Jack withdrew $260 from the savings account at the end of each quarter for 2 years. At the end of the second year of being unemployed, Jack found another job and started contributing $100 back into the savings account at the end of each quarter for the next six years. Do the following: 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 to solve this problem. Show all the necessary work that you need perform to arrive at the answer. (10 points) B. Determine the total interest that Jack earned during the 10 years of the account. Show how you arrived at your answer.(10 points)
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