At age 30 you invest $1,000 that earns 8 percent each year. At age 40 you invest

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At age 30 you invest $1,000 that earns 8 percent each year. At age 40 you invest $1,000 that earns 12 percent per year. In which case would you have more money at age 60?

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Finance Applications and Theory

ISBN: 978-0077861681

3rd edition

Authors: Marcia Cornett, Troy Adair

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Question Posted: Sep 23, 2014 10:25 AM

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At age 30 you invest $1,000 that earns 8 percent each year. At age 40 you invest

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FV Age 60 PV Age 30 1 i Years until age 60 FV Age 60 1000 108 30 1000 1006266 1006266 Or N...View the full answer

Finance Applications and Theory

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