Upon graduating from college 35 years​ ago, Dr. Nick Riviera was already planning for his retirement. Since  then, he has made deposits into a retirement fund on a quarterly basis in the amount of ​$250. Nick has just completed his final payment and is at last ready to retire. His retirement fund has earned 9 percent compounded quarterly. Use five decimal places for the periodic interest rate in your calculations.   a.  How much has Nick accumulated in his retirement​ account? b. In addition to​ this, 15years ago Nick received an inheritance check for ​$20,000 from his beloved uncle. He decided to deposit the entire amount into his retirement fund. What is his current balance in the​ fund? Part 1 a.  The amount Nick has accumulated in his retirement account is ​$_____

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
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hw 3 10)  Upon graduating from college 35 years​ ago, Dr. Nick Riviera was already planning for his retirement. Since  then, he has made deposits into a retirement fund on a quarterly basis in the amount of ​$250. Nick has just completed his final payment and is at last ready to retire. His retirement fund has earned 9 percent compounded quarterly. Use five decimal places for the periodic interest rate in your calculations.
 
a.  How much has Nick accumulated in his retirement​ account?
b. In addition to​ this, 15years ago Nick received an inheritance check for ​$20,000 from his beloved uncle. He decided to deposit the entire amount into his retirement fund. What is his current balance in the​ fund?
Part 1
a.  The amount Nick has accumulated in his retirement account is ​$_____
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