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Javier and Alex plan on retiring 2 7 years from today. At that time, they plan to have saved the same amount. Javier is depositing
Javier and Alex plan on retiring years from today. At that time, they plan to have saved the same amount. Javier is
depositing $ today at an annual interest rate of percent. How will Alex's deposit amount vary from Javier's if
Alex also makes a deposit today, but earns an annual interest rate of percent? Alex's deposit will need to be
than Javier's. Assume annual compounding on both accounts.
Multiple Choice
$ more
$ less
$ more
$ less
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