Withdraws the entire amount and puts it in a mutual fund

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At the end of each quarter, a 30-year-old woman puts $2000 in a retirement account that pays 6% interest compounded quarterly. When she reaches 55, she withdraws the entire amount and puts it in a mutual fund that pays 8.7% interest compounded monthly. From then on she deposits $200 in the mutual fund at the end of each month. How much is in the account when she reaches age 65

Reference no: EM13766842

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