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

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Problem 1: Ramon and Mia want to invest $5,950 at the end of this year into an investment account. They plan to invest 8.8% more next year, and will continue to increase their contributions 8.8% from each year to the next. Assuming the annual investment rate of return is 3.0%, what will be the value of the investment at the end of 8 years?

Reference no: EM132964222

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