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(Please show step by step workings) Both decide to start saving for retirement. a. Mary has found an annuity that

pays 2% compounded monthly. If they made a deposit of $200 each month,

what would be the total value of this annuity at the end of 30 years if interest rates remain the same?


b. John has found an annuity that pays 2.5% compounded semi-annually. If they made a deposit of $1000 every six months, what would be the total value of this annuity at the end of 30 years if interest rates remain the same?

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