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Assume that you invest $ 2 9 2 1 per year in an account that is expected to average 8 . 5 % return per

Assume that you invest $ $2921$ per year in an account that is expected to average $8.5 %$ return per year for the next $30$ years. How much do you expect to have in the account at the end of the $30$ years?

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Question

Assume that you invest $ 2 9 2 1 per year in an account that is expected to average 8 . 5 % return per

Assume that you invest $2921 per year in an account that is expected to average 8.5% return per year for the next 30 years. How much do you expect to have in the account at the end of the 30 years?

Step by Step Solution

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Get Instant Access with AI-Powered Solutions

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Step: 3

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Assume that you invest $ $2921$ per year in an account that is expected to average $8.5 %$ return per year for the next $30$ years. How much do you expect to have in the account at the end of the $30$ years?