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What will be the value of the investment at the end of years

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Question - Ramon and Mia want to invest $4,340 at the end of this year into an investment account. They plan to invest 10.4% more next year, and will continue to increase their contributions 10.4% from each year to the next. Assuming the annual investment rate of return is 3.7%, what will be the value of the investment at the end of 8 years?

Reference no: EM133113921

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