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Future Value of Income Streams 5. Suppose we find an investment account that has an annual interest rate of 7.2% that you put $30000 into
Future Value of Income Streams
5. Suppose we find an investment account that has an annual interest rate of 7.2% that you put $30000 into initially. As long as you keep the $30000 in the account you receive a "member's reward" of $1.20 per day that you choose to have automatically put back into the account. Let's assume for simplicity that the account compounds interest continuously and that the payouts are continuous as well. How much will this account be worth in 10 yearsStep by Step Solution
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