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Your pension plan is an annuity with a guaranteed return of 4% per year (compounded quarterly). You can afford to put $1,700 per quarter into the fund, and you will work for 40 years before retiring. After you retire, you will be paid a quarterly pension based on a 25-year payout. How much will you receive each quarter? (Round your answer to the nearest cent.)

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Financial Management, Finance

Category:- Financial Management
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