Question: Include cash flow diagram in your solution for his retirement. 4. When he turned 35 years of age, Quentin realized that he needed to prepare

Include cash flow diagram in your solution  Include cash flow diagram in your solution for his retirement. 4.

for his retirement. 4. When he turned 35 years of age, Quentin realized that he needed to prepare He started by investing $1,000 at the end of the year. He continued saving $1,000 at the end of each year for a total of 10 years. He then doubled his savings to $2.000 per year for the following 10 years. Realizing that retirement was getting really close now, he doubled his savings again to $4,000 per year for an additional 10 years. How much money will Quentin have accumulated by the end of the 30th year? The average rate of return on his savings over the 30 years was 10% per year compounded annually. [Ans.: $253,640]

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