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Doug Lynchpin sold you an investment contract that pays $1,000 each year for the next 30 years. If you get a return of 10.45% on
Doug Lynchpin sold you an investment contract that pays $1,000 each year for the next 30 years. If you get a return of 10.45% on this investment, how much will you have in your account in 30 years (approximately)?
a)$217,000
b)$263,371
c)$148,288
d) $179,167
e) $9,084
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