Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement savings account paying him a long-term interest of 9% compounded quarterly. What will be the size of his payments at the start of each month from the annuity for 20 years following his retirement?

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The Answer of Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement savings account paying him a long-term interest of 9% compounded quarterly. What will be the size of his payments at the start of each month from the annuity for 20 years following his retirement?

Jamal Plans to Retire in 17 Years