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Q2: a) Lifetime savings accounts, known as LSAs, allow people to invest after-tax money without being taxed on any of the gains. If an engineer
Q2: a) Lifetime savings accounts, known as LSAs, allow people to invest after-tax money without being taxed on any of the gains. If an engineer invests $18,000 now and $18,000 each year for the next 15 years, how much will be in the account immediately after the last deposit, provided the account grows by 10% per year? After the last deposit, the balance in the account will be $ b) How much money would be accumulated 13 years from now from deposits of $11,000 per year for 5 consecutive years, starting 4 years from now, if the interest rate is 9% per year. The amount that would be accumulated is determined to be $
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