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Q 2) Ali deposits $2000 annually into an investment that earns 6.85% compounded annually. Due to a change in employment, these deposits stop after
Q 2) Ali deposits $2000 annually into an investment that earns 6.85% compounded annually. Due to a change in employment, these deposits stop after 10 years, but the account continues to earn interest until Ali retires 25 years after the last deposit is made. A) How much is in the account when Ali retires? B) Assume the compounding was monthly; how much is in the account when Ali retires?
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Microeconomics Theory and Applications with Calculus
Authors: Jeffrey M. Perloff
3rd edition
133019934, 978-0133019933
