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How much will she need at the beginning

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Q1. Brenda plans to go to on a 4 year vacation, starting in 2030. She plans to withdraw $20,000 every quarter. If her money earns 8% compounded quarterly, how much will she need at the beginning of 2030, in order to fund her entire 4 year vacation?

a. $271,554.19

b. $271,455.19

c. $271,454.19

d. $271,545.19

Q2. Brenda plans to go to on a 4 year vacation, starting in 2030. She plans to withdraw $20,000 every quarter.

It is now 2020. If she plans to deposit $9,000 every 6 months, compounded semiannually at 9%, how much will she have once 2030 comes around?

a. $282,324.81

b. $282,342.81

c. $282,234.81

d. $282,432.81

Reference no: EM133089847

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