Question 6 0.75 pts For retirement planning, you decide to deposit $1,156 at the end of...

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Question 6 0.75 pts For retirement planning, you decide to deposit $1,156 at the end of every quarter and increase your depos

Answer 1

Answer #1

I = 6% / 4 = 1.5% per quarter

t = 25 * 4 = 100 quarters

Future worth = 1156 * (F/A, 1.5%,100) + 31 * (F/G, 1.5%,100)

= 1156 * 228.8030 + 31 * 8586.86955

= 530689.27 ~ 530689 (Nearest Dollar)

Answer 2

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