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You would like to travel in South America 5 years from now, and you can save $8,200 per year, beginning one year from today. You
You would like to travel in South America 5 years from now, and you can save $8,200 per year, beginning one year from today. You plan to deposit the funds in a mutual fund that you think will return 8.5% per year. Under these conditions, how much would you have just after you make the 5th deposit, 5 years from now? Select the correct answer. a. $48,569.66 b. $48,560.46 c. $48,588.06 d. $48,578.86 e. $48,597.26
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