at age 21 Julio begins saving $1,000 each year until age 35 (15 payments) in an ordinary
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at age 21 Julio begins saving $1,000 each year until age 35 (15 payments) in an ordinary annuity paying 5.2% annual interest compounded yearly and then leaves his money in the account until age 65 (30 years). His friend Max begins at age 41 saving $2,000 per year in the same type of account until age 65 (25 payments). How much does each have in his account at age 65?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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