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Calculate the value of the fund

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Reference no: EM132972820

Mitchell deposits $160.00 into her retirement fund at the beginning of every month for 20 years. The interest rate on the fund was 4.30% compounded monthly for the first 10 years and 5.50% compounded monthly for the next 10 years.

a. Calculate the value of the fund at the end of the 20-year term.

b. How much of this is interest?

Reference no: EM132972820

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