Be sure that you show all of your work to reach your answer. Each step must be on a separate line. Your method to reach your answer must be clear and include explanations. Only round when you have reached a final answer. Do not round during the steps to reach the final answer. Use the longer number that your calculator gives you. Final answer: Round money to the nearest cents. Example $46.778 rounds to $46.78 As part of your retirement planning, you purchase an annuity that pays 3.5% annual interest compounded quarterly a. If you make quarterly payments of $ 600 how much will you have saved in 5 years? b. Instead, if you make quarterly payments of $300, how much will you have saved in 10 years?
Be sure that you show all of your work to reach your answer. Each step must be on a separate line. Your method to reach your answer must be clear and include explanations.
Only round when you have reached a final answer. Do not round during the steps to reach the final answer. Use the longer number that your calculator gives you.
Final answer: Round money to the nearest cents. Example $46.778 rounds to $46.78
As part of your retirement planning, you purchase an annuity that pays 3.5% annual interest compounded quarterly
a. If you make quarterly payments of $ 600 how much will you have saved in 5 years?
b. Instead, if you make quarterly payments of $300, how much will you have saved in 10 years?
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