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b) Develop a two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in
b) | Develop a two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in increments of 1%. From the 2-way table, what are the minimum annual investments Lindsay must contribute for annual rates ranging from 6% to 11%, if she wants to accrue a final payout of at least $1 million? Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. | ||||||||||||||
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Step: 1
To create the twoway table and find the minimum annual investments for the given annual rates we can use the formula for the future value of an annuit...
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Step: 2
Step: 3
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