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(a) The future value of the account $ X (b) Dick's total contribution to the account $112320 (c) The total interest $ x

(a) The future value of the account $ X (b) Dick's total contribution to the account $112320 (c) The total interest $ x

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Dick Eckel recently set up a TDA to save for his retirement. He arranged to have $120 taken out of each of his biweekly checks; it will earn 9-% interest. He just had his twenty-ninth birthday, and his ordinary annuity comes to term when he is 65. Find the following. (Round your answers to the nearest cent.) (a) The future value of the account $ x (b) Dick's total contribution to the account $ 112320 (c) The total interest $ x
Transcribed Image Text:Dick Eckel recently set up a TDA to save for his retirement. He arranged to have $120 taken out of each of his biweekly checks; it will earn 9-% interest. He just had his twenty-ninth birthday, and his ordinary annuity comes to term when he is 65. Find the following. (Round your answers to the nearest cent.) (a) The future value of the account $ x (b) Dick's total contribution to the account $ 112320 (c) The total interest $ x
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