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What amount will be in the fund

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Reference no: EM132255008

Question - Sally Medavoy will invest $8,000 a year for 20 years in a fund that will earn 6% annual interest.

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

Reference no: EM132255008

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