Lifetime Savings Accounts, known as LSAs, allow people to invest after-tax money without being taxed on any

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Lifetime Savings Accounts, known as LSAs, allow people to invest after-tax money without being taxed on any of the gains. An engineer began his LSA by investing $10,000 five years ago and increased his deposit by $1000 each year, including a deposit today. How much will be in the account immediately after today’s deposit (after a total of 6 deposits), if the account grew at a rate of 12% per year?

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Basics Of Engineering Economy

ISBN: 9780073376356

2nd Edition

Authors: Leland T. Blank, Anthony Tarquin

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