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Who has more money at the end of 20 years

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Reference no: EM132577559

Anastasia and Bartek are at it again. This time Anastasia saves $240 at the end of each month for 10 years, and then saves $480 per month for the next 10 years.

Meanwhile Bartek saves $480 at the end of each month for 10 years, and then saves $240 per month for the next 10 years

The interest rate is 2.5% compounded annually.

a) Who has more money at the end of 20 years?

b) Prove that your answer to a) will always be true for any interest rate r as long as r > 0.

Reference no: EM132577559

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