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How much are you going to have in that account at the end

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Question - You plan to retire in 32 years. You are debating whether to deposit $65,931 into an account earning 10 percent annually today or waiting 8 years before making the deposit. How much more will be in the account when you retire in 32 years if you make the deposit today as opposed to waiting 8 years to make the first deposit?

You currently have $20,000 in a bank account that pays you 5 percent interest annually. You plan to withdraw $800 (starting 1 year from now) every year for the next 10 years in the same account. How much are you going to have in that account at the end of 10 years?

What is the EAR if the APR is 5 percent compounded monthly?

You currently have $20,000 in a bank account that pays you 5 percent interest annually. You plan to deposit $800 (starting 1 year from now) every year for the next 10 years in the same account. How much are you going to have in that account at the end of 10 years?

Reference no: EM133050737

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