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You have just accepted a job offer, which came with a signing bonus of $8,000 to be paid today in your retirement account. Your employer
You have just accepted a job offer, which came with a signing bonus of $8,000 to be paid today in your retirement account. Your employer will also contribute an extra S9,000 at the end of each full year (you start work tomorrow!). If this account is expected to earn 10% pa. compounded semi-annually, which number is closest to the amount of money will you have in that account after five years? (including the payment for that year) 9. A) $59,500 B) S68,251 C) $69,500 D) $70,009 E) None of the above
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