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What will be balance when go to retire in ten years

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Reference no: EM132929492

Problem 1: Let's say Biagio deposits $15,550 dollars in a CD (Certificate of Deposit) at Star Bank. The bank is offering to pay 6.75% interest for 5 years. What will be the balance in Ken's account five years from today.

a. 19,592.32
b. 20,000.00
c. 20,321.25
d. 21,556.08

Problem 2: Lets say you deposit $300 per month, every month for the next 10 years, beginning at the end of this month. You'll invest in a high risk stock fund that will pay 7.25%. What will be your balance when you go to retire in 10 years.

a. 66,210.00
b. 64,450.00
c. 57,310.25
d, 52,646.02

Reference no: EM132929492

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