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Suppose that you invest $1000 in a savings account today paying interest of 5 percent per year. You expect to save $600 per year, which
Suppose that you invest $1000 in a savings account today paying interest of 5 percent per year. You expect to save $600 per year, which will be placed into the account at the end of each year beginning one year from now (the last $600 deposit occurring in six years). How much money will you have in the account after six years?
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