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Question - You are trying to plan for retirement in 20 years and currently you have $50,000 in a savings account and $80,000 in stocks. In addition, you plan to add to your savings by depositing $10,000 per year in your savings account at the end of each of the next 20 years, until retirement. Assume that your savings account returns 5% compounded annually and your investment in stocks will return 10% compounded annually, how much do you have at the end of 20 years?
Write an essay using the authoritive literature to discuss
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GAAP tend to be more rule based and specific
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