Chen Young
10/02/2024 · High School
Question 3 A newscaster earns \( \$ 32,800 \) and wants to invest \( 10 \% \) of his/her monthly salary to save for retirement in 30 years. If he/she invests this money at \( 3.9 \% \) compounded monthly, how much money will he/she have at retirement? a) How much will be saved each year? b) What will be the monthly deposit? \( \$ 5 \) c) What will be the amount in the account after 30 years? \( \$ \)
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a) **\$3,280**
b) **\$273.33**
c) **\$192,500.00**
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