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How much must he contribute each month

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Q1) Calculate the future value of an increasing annuity of $100 per month for 5 years at 3% interest compounded monthly.

Q2) Saving for a College Education: As a savings program toward Alberto's college education, his parents decide to deposit $100 at the end of every month into a bank account paying interest at the rate of 6% per year compounded monthly. If the savings program began when Alberto was 6 years old, how much money will have accumulated by the time he turns 18?

Q3) Jason is planning to retire in 25 years and wishes to accumulate $1,500,000. How much must he contribute each month into a retirement account earning?

Reference no: EM132756577

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