Solved: Retirement planning as a fringe benefit for the past 12 yr, Mathematics

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Retirement planning as a fringe benefit for the past 12 yr

Question: RETIREMENT PLANNING As a fringe benefit for the past 12 yr, Colin's employer has contributed $100 at the end of each month into an employee retirement account for Colin that pays interest at the rate of 7%/year compounded monthly. Colin has also contributed $2000 at the end of each of the last 8 yr into an IRA that pays interest at the rate of 9%/year compounded yearly. How much does Colin have in his retirement fund at this time?

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Mathematics: Retirement planning as a fringe benefit for the past 12 yr

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