A 20-year-old student decided to set aside $100 on his 2pt birthday for investment. Each subsequent year

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A 20-year-old student decided to set aside $100 on his 2pt birthday for investment. Each subsequent year through his 55th birthday, he plans to increase the sum for investment on a $100 arithmetic gradient. He will not set aside additional money after his 55th birthday. If the student can achieve a 12% rate of return, what is the future worth of the investments on his 65th birthday?
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Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

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