4. Nicky starts a retirement account at age 31, putting away $200 each pay period, of...
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4. Nicky starts a retirement account at age 31, putting away $200 each pay period, of which she has 26 per year. However, as her salary increases, she finds she is able to increase contributions at a continuous rate of 2%, modeled by f()=5200e0. If her savings grow at 6.5% continuously, find the amount of money Nicky will have at age 65. Use the appropriate formula, set it up and evaluate with all work shown. Round to the nearest S1. 4. Nicky starts a retirement account at age 31, putting away $200 each pay period, of which she has 26 per year. However, as her salary increases, she finds she is able to increase contributions at a continuous rate of 2%, modeled by f()=5200e0. If her savings grow at 6.5% continuously, find the amount of money Nicky will have at age 65. Use the appropriate formula, set it up and evaluate with all work shown. Round to the nearest S1.
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From the given information the given function f t 5200 e ... View the full answer
Related Book For
South Western Federal Taxation 2015 Essentials of Taxation Individuals and Business Entities
ISBN: 9781285438290
18th edition
Authors: James Smith, William Raabe, David Maloney, James Young
Posted Date:
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