Farid plans to retire on his 50th birthday and has saved $10,000 every year since his 30th
Question:
Farid plans to retire on his 50th birthday and has saved $10,000 every year since his 30th birthday in a fund that earns 4.5% compounded annually. He did not make an investment on his 50th birthday.
a. How much did he have in this account on his 50th birthday?
b. What was the total investment?
c. What was the interest earned?
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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