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You put aside $3,000 each year in a savings plan that earns 8 percent interest for 30 years and suppose in 5 years you receive
You put aside $3,000 each year in a savings plan that earns 8 percent interest for 30 years and suppose in 5 years you receive a bonus of $10,000, which can also be invested. a. How much money will you have accumulated in 30 years? b. If your goal is to accumulate $800,000, how much more do you need to save every year
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