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Sally Medavoy will invest $ 8 , 0 0 0 a year for 2 3 years in a fund that will earn 1 2 %

Sally Medavoy will invest $8,000 a year for 23 years in a fund that will earn 12% annual interest. If the first payment into the fund occurs today, what amount will be in the fund in 23 years? If the first payment occurs at year-end, what amount will be in the fund in 23 years?

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