Mathematics

Charlie Irwin

31 March, 15:12

For the last 10 years, Megan has made regular semiannual payments of $1,624.13 into an account paying 1.5% interest, compounded semiannually. If, at the end of the 10 year period, Megan stops making deposits, transfers the balance to an account paying 2.3% interest compounded monthly, and withdraws a monthly salary for 5 years from the new account, determine the amount that she will receive per month. Round to the nearest cent

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