Mathematics, 31.08.2021 08:40 paypay319
In 1980, Jack and Dianne began planning for their retirement in 2025. Jack makes monthly payments of $255 into an annuity paying 5.4% annual
interest and Dianne makes monthly payments of $275 into a 403B which pays 4.5% annual interest.
a) In 1994, whose plan had more money in it?
I
b) What will be the value of Jack's retirement plan in 2025 when he retires? $
c) What will be the value of Dianne's retirement plan in 2025 when she retires? $
d) When (what year and what month) will Jack and Dianne have the same amount in their retirement plans? (Hint: graph each function and find
the intersection)
Answers: 2
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In 1980, Jack and Dianne began planning for their retirement in 2025. Jack makes monthly payments of...
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