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you are saving for retirement. starting this month you will deposit $600 per month into a...

you are saving for retirement. starting this month you will deposit $600 per month into a stock account that earns 9% interest, compounded monthly. In ten years, you will inhereit 100000 which you will also put in the same account. a) If you plan to retire in 37 years, how much will you have when you retire?

thank you.

Solutions

Expert Solution

Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

Cell reference -

Please note - It is assumed that monthly deposits are made at end of the month.

jeff jeffy answered 3 months ago
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