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1. (a) Suppose you start investing $0.25 per day from the day you are born. Assume that each year has 365 days and that you

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1. (a) Suppose you start investing $0.25 per day from the day you are born. Assume that each year has 365 days and that you can invest at the rate of 11.83% (the average annual effective market return for US stocks from 1963-1993) without transaction costs. On your 65th birthday, how much money will you have (including the payment on that day)

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