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(Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $110,000 he earned providing Mr. Burns entertainment 7
(Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $110,000 he earned providing Mr. Burns entertainment 7 years ago at 6 percent annual interest and that he starts investing an additional $2,500 a year today and at the beginning of each year for 15 years at the same 6 percent annual rate. How much money will Homer have 15 years from today? The amount of money Homer will have 15 years from now is $ (Round to the nearest cent.)
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