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Suppose that someone invests $500 every month in a retirement plan with a return of 12% for 20 years. A) Figure out the account balance
Suppose that someone invests $500 every month in a retirement plan with a return of 12% for 20 years. A) Figure out the account balance in 20 years. B) Using the balance, her retirement plan begins to give her the same amount of money from the 21 st year. Given the retirement plan annual return of 12%, how much does she receive every year over the following 10 years
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