(4 points) A person wants to establish an annuity for retirement. He wants to make quarterly...

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(4 points) A person wants to establish an annuity for retirement. He wants to make quarterly deposits for 30 years into an ordinary annuity that earns 6.2% compounded quarterly. His goal is to have $408227.49 at the end of 30 years (a) The amount that should be deposited each quarter in order to accumulate the required amount is $1186.54 [Note: Your answer is a dollar amount and should have a dollar sign and exactly two decimal places.] (b) What is the total amount of interest earned during the 30-year period? Total Interest Eamed [Note Your answer is a dollar amount and should have a dollar sign and exactly two decimal places] (4 points) A person wants to establish an annuity for retirement. He wants to make quarterly deposits for 30 years into an ordinary annuity that earns 6.2% compounded quarterly. His goal is to have $408227.49 at the end of 30 years (a) The amount that should be deposited each quarter in order to accumulate the required amount is $1186.54 [Note: Your answer is a dollar amount and should have a dollar sign and exactly two decimal places.] (b) What is the total amount of interest earned during the 30-year period? Total Interest Eamed [Note Your answer is a dollar amount and should have a dollar sign and exactly two decimal places]

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