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What will be the value of claires investment

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Reference no: EM131131181

Claire invests $20 000.00 on her 25th birthday and plans to add $2000.00 to her investment each year until her 40th birthday. The interest rate is 5.5% compounded annually.

a) What will be the value of Claire's investment on her 40th birthday? Show your work.

b) How much interest will her investment have earned by her 40th birthday?

Reference no: EM131131181

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