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Draw a timeline in your notes to practice, then use the one below to help...

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Finance

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Draw a timeline in your notes to practice, then use the one below to help you! Tom started his career with Oracle with an intention to retire in 25 years. When he retired, he started receiving $66 000 every 6 months for 15 years, starting on the date of his retirement. How much did Tom deposit in an account at the start of his career, if interest is 9.25% compounded semi-annually? Retirement Start of career (semi-annual periods) 40 years today 1 2 50 51 79 80 semi-annual periods IY = ? $66,000 $66,000 .......... $66,000 CY = ? 25 yrs 49 PV,=? + FV PV, n = ? FV, = 0 n2 = ? Select one: a. $147.332 b. $1.108.432 C$115,594 d. $1,449,334 e. $79,360

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