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Ron Jamison, a 20-year-old college student, smokes about a carton of cigarettes a week. He wonders how much money he could accumulate by age 65
Ron Jamison, a 20-year-old college student, smokes about a carton of cigarettes a week. He wonders how much money he could accumulate by age 65 if he quit smoking nowand put his cigarette money into a savings account. Cigarettes cost $35 per carton. Ron expects that a savings account would earn 5% interest, compounded semiannually. Compute the future worth of Rons savings at age 65.
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