Question
Maggie contributed $2,000 every year into her retirement account, while Sally contributed $3,500 into hers. If the return on both accounts averaged 8% annually, how
Maggie contributed $2,000 every year into her retirement account, while Sally contributed $3,500 into hers. If the return on both accounts averaged 8% annually, how much more was in Sally's account at the end of 20 years, assuming end-of-period payments?
a. $160,167b. $68,643c. $205,929d. $91,524
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
