Justin is saving for his retirement 20 years from now by setting up a savings plan....
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Justin is saving for his retirement 20 years from now by setting up a savings plan. He has set up a savings plan wherein he will deposit $101.00 at the end of every three months for the next 10 years. Interest is 8% compounded quarterly. (a) How much money will be in his account on the date of his retirement? (b) How much will Justin contribute? (c) How much will be interest? ... Justin is saving for his retirement 20 years from now by setting up a savings plan. He has set up a savings plan wherein he will deposit $101.00 at the end of every three months for the next 10 years. Interest is 8% compounded quarterly. (a) How much money will be in his account on the date of his retirement? (b) How much will Justin contribute? (c) How much will be interest? ...
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