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Future Value of Annuity. Michelle is attending college, has a part-time job, and lives at home. Michelle wants to prepare for the possibility that she may have to move depending on job opportunities after graduation. Michelle decides decides to start a "relocation fund". Michelle has found a conservative mutual fund that has averaged 12% annual interest over the past several years. If Michelle invests $160 per month, how much could she potentially earn in 5 years? Please show work please.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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