If the first payment into the fund occurs today

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Reference no: EM131287827

June will invest 7,000 a year for 20 years in a fund that will earn 12% annunal interest.

If the first payment occurs at year end, what amount will be in the fund in 20 years?

If the first payment into the fund occurs today, what amount will be in the fund in 20 years?

Please answer both questions and show steps.

Reference no: EM131287827

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