By how much would your answer differ if you invested

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Q. You want $100,000 after eight years in order to start a business. Currently you have $26,000, which may be invested to earn 7 percent annually. How much additional money must you set aside each year if se funds also earn 7 percent in order to meet your goal of $100,000 at end of eight years? By how much would your answer differ if you invested additional funds at beginning of each year instead of at end of each year?

Reference no: EM1379836

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