If you put away $5 daily for 33 years (assume each year has 365 days), how...
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If you put away $5 daily for 33 years (assume each year has 365 days), how much will you have at the end of 38 years? Consider a 6% interest rate and use the formula for FV of an annuity = fixed price x [((1+r)^n-1)/r]. (HINT: Don't forget to multiply your FV by (1+r)^n for the remaining 5 years that you are not contributing, but are still collecting interest) If you put away $5 daily for 33 years (assume each year has 365 days), how much will you have at the end of 38 years? Consider a 6% interest rate and use the formula for FV of an annuity = fixed price x [((1+r)^n-1)/r]. (HINT: Don't forget to multiply your FV by (1+r)^n for the remaining 5 years that you are not contributing, but are still collecting interest)
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