A couple thinking about retirement decide to put aside $3,000 each year in a savings plan that

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A couple thinking about retirement decide to put aside $3,000 each year in a savings plan that earns 8% interest. In 5 years they will receive a gift of $10,000 that also can be invested.

a. How much money will they have accumulated 30 years from now?

b. If their goal is to retire with $800,000 of savings, how much extra do they need to save every year?

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Fundamentals of Corporate Finance

ISBN: 978-0077861629

8th edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus

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Question Posted: Jun 30, 2016 09:10 AM

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A couple thinking about retirement decide to put aside $3,000 each year in a savings plan that

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Fundamentals of Corporate Finance

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