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Julia Medavoy will invest $8,780 a year for 20 years in a fund that will earn 10% annual interest. If the first payment into the

Julia Medavoy will invest $8,780 a year for 20 years in a fund that will earn 10% annual interest. If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If the first payment occurs at year-end, what amount will be in the fund in 20 years?

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