Rebecca would like to set up an account to supplement her parents' retirement income for the next 15 years.
a. If t he account earns 7.2 percent compounded monthly, how much will Rebecca have to deposit today so that her parents are paid $150 at the end o f each month?
b. How much would she have to deposit if her parents wanted to receive the $150 payment at t he beginning o f each month?
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