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A broker friend of yours thinks that you can earn 9% per year if you deposit with his firm's money market account. You have $4,000
A broker friend of yours thinks that you can earn 9% per year if you deposit with his firm's money market account. You have $4,000 today. Your friend says that if you deposit the $4,000 and a yearly deposit of $10,000 at each year-end, his firm can convert it into a million dollars within 25 years. Is it true that this is possible!
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