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April 17, 2014

Homework Help: Finite Math and Applied Calculus

Posted by Chris on Wednesday, February 19, 2014 at 3:02pm.

Betty Sue sets up a retirement account. For the first 35 years, she deposits
$500 at the end of each month into an account with an annual interest rate of 3.6%, compounded monthly. Then, she stops making monthly payments and transfers the money into a di fferent account with an annual interest rate of 4%, compounded quarterly for a period of 10 years. How much money has she saved for retirement at the end of her 45 years if saving?

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