You invest $4970 at the beginning of every year and your friend invests $4970 at the end
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Question:
You invest $4970 at the beginning of every year and your friend invests $4970 at the end of every year. You both earn an annual rate of return of 14.00%.
a) How much will you have in your account after 11 years?
b) How much will your friend have in his account after 11 years?
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