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Mathematics, 05.05.2022 03:40 gloriahope3017

QUESTION-You plan to deposit an additional $2000 at the end of each quarter into a 401k account until you retire. The 401k account also pays 5.5% per year compounded quarterly. 1.How much money will be in the 401k account when you retire in 20 years? Estimate to the nearest whole number.

2.A college fund is established in which $100 is deposited at the end of every month at4% per year compounded monthly. If the account started when you were five years old, how much will be in the account when you turn 18? Estimate to the nearest whole number.

20 POINTS!

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