Savings Plan Assignment | Homework For You

Jeff is saving for his retirement 22 years from now by setting up a savings plan. He has set up a savings plan wherein he will deposit $131.00 at the end of each year for the next 14 years. Interest is 6% compounded annually.Homework For You

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​(a) How much money will be in his account on the date of his​ retirement?

​(b) How much will Jeff ​contribute?

​(c) How much will be​ interest?

​(a) The future value will be

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​(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.)

​(b) Jeff will contribute

​(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.)

​(c) The interest will be

​(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.) Get Finance Homework Help Today

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