b) At age 35, Alberto stops making monthly payments into his annuity, but he takes the money he accumulated in his annuity and

Question

b) At age 35, Alberto stops making monthly payments into his annuity, but he takes the money he accumulated in his annuity and invests it into a savings account with an interest rate of 8% compounded monthly. Using the compounded interest formula A = p(1 + )" determine the amount Alberto has in n.t his savings account 30 years later when he retires at age 65,

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