Suppose an employee works for 10 years and then retires. Her annual retirement contributions (made...
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Suppose an employee works for 10 years and then retires. Her annual retirement contributions (made at the beginning of each year) are as follows; $724 for 8 years and $952 for the remaining 2 years. The contributions are invested at a rate of 4.53% for 8 years and at a rate of 5.27% for the remaining 2 years. Compute her retirement account balance at retirement after 10 years.
| $8,752.58 | ||
| $9,488.01 | ||
| $9,163.52 | ||
| $9,932.27 | ||
| none of the above |
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