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George Harris has some extra money lying around. He has decided to start investing in a fund for his children. He will deposit $70,000 today,
- George Harris has some extra money lying around. He has decided to start investing in a fund for his children. He will deposit $70,000 today, $100,000 in 2 years, $120,000 in 3 years, and $200,000 in 5 years. Note that George will not make any deposits in years 1 and 4. George can earn 11% interest compounded annually on his investments.
- How much money will there be in the fund by the end of 5 years?
How much money will there be in the fund by the end of 10 years?
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Finance For Non Financial Managers
Authors: Pierre G. Bergeron
5th Edition
0176104070, 9780176104078
