Mathematics

Piper Schmidt

17 November, 16:45

Starting at age 50, a woman puts $1700 at the end of each quarter into a retirement account that pays 7% interest compounded quarterly. When she reaches age 60, she withdraws the entire amount and places it in a mutual fund account that pays 9% compounded monthly. From then on she deposits $400 in the same mutual fund at the end of each month. How much is in the account when she reaches age 65?

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