Assume that you contribute $260 per month to a retirement plan for 20 years. Then you...

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Assume that you contribute $260 per month to a retirement planfor 20 years. Then you are able to increase the contribution to$460 per month for the next 30 years. Given a 6.0 percent interestrate, what is the value of your retirement plan after the 50 years?(Do not round intermediate calculations and round your final answerto 2 decimal places.)

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Lets divide the annuity stream in to two annuities first one with 260 monthly deposits for 50 years and second one with 200 monthly deposits for 30 years We have to compute    See Answer
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Assume that you contribute $260 per month to a retirement planfor 20 years. Then you are able to increase the contribution to$460 per month for the next 30 years. Given a 6.0 percent interestrate, what is the value of your retirement plan after the 50 years?(Do not round intermediate calculations and round your final answerto 2 decimal places.)

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