You begin to contribute to an investment plan with your company immediately after graduation, when you are

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You begin to contribute to an investment plan with your company immediately after graduation, when you are 23 years old. Your contribution plus your company’s contribution totals $6000/y. Assume that you work for the same company for 40 years.

1. What effective annual interest rate is required for you to have $1 million in 40 years?

2. Repeat Part (a) for $2 million.

3. What is the future value of this investment after 40 years if the effective annual interest rate is 7% p.a.?

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Analysis Synthesis And Design Of Chemical Processes

ISBN: 9780134177403

5th Edition

Authors: Richard Turton, Joseph Shaeiwitz, Debangsu Bhattacharyya, Wallace Whiting

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Question Posted: Nov 07, 2023 07:52 AM

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You begin to contribute to an investment plan with your company immediately after graduation, when you are

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Analysis Synthesis And Design Of Chemical Processes

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