QUESTION 8 If you save $270 per quarter for retirement in an account that earns 8% interest per year, compounded quarterly, how much will you have after 38 years?

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A: Introduction: The formula of compound interest is given by, A=P1+rnnt Where A is the final amount, P…

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A: Amount for compound interest:If P amount of money is invested for t years at r% rate of interest…

Q: Suppose that $1000 is invested  at8%, compounded quarterly.​How much is in the  account at the end…

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Q: Suppose that a person deposits $10,000 in a savings account at a bank yielding 11% per year with…

A: The compound interest formula : A=P1+rnnt, where , A= Final amount P=Principal or Initial…

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 10…

A: Formula: A=P1+rnnt where A= Final amount P= Principal initial balance r= Rate of interest t= Time…

Q: Find the final amount of money in an account if $8,400$8,400 is deposited at 6.5%6.5% interest…

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