Family in the investment account

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1. You are glad to hear that you are going to get $100,000 when you turn 32. How much money was deposited by your family in the investment account that pays 8.0% 32 years ago when you born?

2. Your grandparents deposited 20,000 on the day you born. How much will there be when you turn 25 years if the investment account pays 7.7% return year?

Reference no: EM133117168

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