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Accumulated in his retirement account

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(Future value of an annuity) Upon graduating from college 35 years ago, Dr. Nick Riviera was already planning for his retirement. Since then, he has made deposits into a retirement fund on a semiannually basis in the amount of S800. Nick has just completed his final payment and is at last ready to retire. His retirement fund has earned 11 percent compounded semiannually. Use five decimal places for the periodic interest rate in yotn- calculations.

a. How much has Nick accumulated in his retirement account?

b. In addition to this, 10 years ago Nick received an inheritance check for S30,000 from his beloved uncle. He decided to deposit the entire amount into his retirement fund. What is his current balance in the fund?

a. The amount Nick has accumulated in his retirement account is SD. (Round to the nearest cent.)

Reference no: EM131101062

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