Question: John recently set up a TDA to save for his retirement. He arranged to have $120 taken out of each of his biweekly checks; it

John recently set up a TDA to save for his retirement. He arranged to have $120 taken out of each of his biweekly checks; it will earn 9 7/8%

interest. He just had his twenty-ninth birthday, and his ordinary annuity comes to term when he is 65. Find the following. (Round your answers to the nearest cent.)

(a) The future value of the account

(b) John's total contribution to the account

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