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individual is 43 years old At the end of each month he deposits 260 in...

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Basic Math

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individual is 43 years old At the end of each month he deposits 260 in a retirement account that erest compounded monthly After 12 years what is the value of the account If no further deposits or withdrawals are made to the account what is the value of the account whe ches age 65 For the first 12 years the individual s deposits form an account Points 0 of 3 of each period Therefore the formula F to behave as an annuity a because the deposits are ordinary annuity annuity due should be used uld be used

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