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In an effort to save money for early retirement, an environmental engineer plans to deposit $1200 per month, starting one month from now, into a
In an effort to save money for early retirement, an environmental engineer plans to deposit $1200 per
month, starting one month from now, into a money
market
account that pays 8% per year compounded
semiannually. How much will be in the account at the end
of 25 years? Provide a cash flow diagram to support your work.
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