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2. You are planning to contribute $8000 a year into a mutual fund that earns an average of 8% per year. If you continue to
2. You are planning to contribute $8000 a year into a mutual fund that earns an average of 8% per year. If you continue to contribute for the next 10 years, how much you would have in your account? a) Draw the cash flow diagram b) Show your manual computation c) Show using excel the computation, indicating initial balance, interest, deposit made, and ending balance from year 1 to year 10 i. What is the beginning balance in the 5th year? ii. What is the ending balance at the end of the 7th year iii. What is the total amount of interest after 5 years
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