How much could Chang save at the given age

Reference no: EM131806788

Question: Chang is 20, and he smokes a carton of cigarettes per week. A carton of his favorite brand costs $31.25. How much could he save by age 65 if he stops smoking and deposits the money monthly in a savings account? The account has a nominal rate of 6% compounded monthly.

Reference no: EM131806788

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