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What is the future value of a five-year ordinary annuity

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How much can be accumulated for retirement if $2000 is deposited annually, beginning one year from today, and the account earns 7% interest compounded annually for 48 years?

What is the future value of a five-year ordinary annuity of $1,000 per year if the interest rate is 8.55%? Hint: solve for year 5.

Reference no: EM133228457

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