NOTES
ASK YOUR TEACHER
PRACTICE ANOTHER
Your pension plan is an annuity with a guaranteed return of 4% per year (compounded quarterly). You can aff
$1,300 per quarter into the fund, and you will work for 40 years before retiring.
How much money (in dollars) has accumulated in the retirement fund when you retire? (Round your answer to
cent.)

After you retire, you will be paid a quarterly pension based on a 25-year payout. How much (in dollars) will your
each quarter? (Round your
answer to the nearest cent.)
$
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WANEFMAC7 3.3.055.
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