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Kristen the first child, took the path of four year college with a full-time job upon graduation and started saving immediately. She faithfully put $100
Kristen the first child, took the path of four year college with a full-time job upon graduation and started saving immediately. She faithfully put $100 a week into an investment account for the next 10 years. She then decided to start a family and be a stay-at-home mom, so she could no longer afford her $100 weekly investment. She earned an average return of 7% compounded weekly.
- After ten years, how much did Kristen accumulate in her investment account?
- If Kristen didn't spend any of her investment, how much did she accumulate over the next twenty years (total 30 years) if she continued to earn 7% interest (lump sum investment)?
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