(Answered) 1 raul gonzales a 25-year-old professional puts 750 in a

Management Studies

1. Raul Gonzales, a 25-year-old professional, puts $750 in a retirement fund at the end of each quarter until he reaches age 60. The account pays 8% interest compounded quarterly. How much money does Raul have when he is 60 years old?

2. Katie Jones must pay a lump sum of $16,000 in 5 years. What amount deposited today at 3.2% compounded monthly will amount to $16,000 in 8 years?

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