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Genoveva wants to invest $ 2,000 in an account at the beginning of each of the next 8 years. That investment would give you a
Genoveva wants to invest $ 2,000 in an account at the beginning of each of the next 8 years. That investment would give you a return of 8% per year, compounded annually. Then this one wishes invest that amount in an investment with an insurance company for another 10 years at a rate 6% annual interest compounded semi-annually. The question is: How much does Billy could he receive at the end of each year for the last 10 years?
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