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A personal account earmarked as a retirement supplement contains $242,200. Suppose $200,000 is used to...

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Finance

A personal account earmarked as a retirement supplement contains $242,200. Suppose $200,000 is used to establish an annuity that earns 8%, compounded quarterly, and pays $6500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.)

? Quarters

Find the present value of an annuity due that pays $4000 at the beginning of each quarter for the next 5 years. Assume that money is worth 5.8%, compounded quarterly. (Round your answer to the nearest cent.) $?

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