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1 (20 points) Suppose you start an investing account and initially deposit $1,000 and wish to make $10,000 at the end of 12 years.
1 (20 points) Suppose you start an investing account and initially deposit $1,000 and wish to make $10,000 at the end of 12 years. Your investment account is earning 5% APR compounded monthly. What amount will you need to deposit monthly in to your investing account achieve your goal of $10,000 in 12 years? Hint: Begin by writing out the explicit difference equation.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
