n order to withdraw $600 per month for 4 years, you plan to make monthly deposits into an account earning 9.754% interes

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answerhappygod
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n order to withdraw $600 per month for 4 years, you plan to make monthly deposits into an account earning 9.754% interes

Post by answerhappygod »

n order to withdraw $600 per month for 4 years, you plan to make
monthly deposits into an
account earning 9.754% interest compounded monthly for 2 years
beforehand.
(a) How much money will have to be in the account in order to be
able to withdraw $600 per month
for 4 years? Round your final answer to 2 decimal places.
(b) How much do you need to deposit each month, for 2 years, to
accumulate the amount from part
(a)? Round your final answer to 2 decimal places.
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