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Styles Since attending college at SAU and taking the Personal Finance course, Jodie has been saving regularly and has accumulated $20,000 in savings and investments.

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Styles Since attending college at SAU and taking the Personal Finance course, Jodie has been saving regularly and has accumulated $20,000 in savings and investments. Jodie wants to open up her own business in 3 more years. She thinks she will need $35,000 to do so. What if instead of depositing money into a savings account and then investing after she accumulated a lot of money Jodie began investing $6,000 a year each year in an investment that earned her an 8% return? How long would it take her to reach her goal of $35,000? Suppose your grandmother agrees to give you $15,000 when you graduate from SAU. Assuming that you receive your diploma after 4 years, how much willthe $15,000 be worth if you invest it all for 40 years and can earn a 6% rate of return? LG

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