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(Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $160,000 he earned providing Mr. Burns entertainment 6 years
(Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $160,000 he earned providing Mr. Burns entertainment 6 years ago at 7 percent annual interest and that he starts investing an additional $2,300 a year today and at the beginning of each year for 20 years at the same 7 percent annual rate. How much money will Homer have 20 years from today? The amount of money Homer will have 20 years from now is $ (Round to the nearest cent.)
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