Assume someone invests $10,000 at the end of each year for 30 years (total of 30 investments,
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Question:
- Assume someone invests $10,000 at the end of each year for 30 years (total of 30 investments, 8% annual return, compounded annually). How much money would be in the account in 30 years (the end of Year 30)? You must include the calculation in order to receive credit.
- 2) Discuss the effect that increasing or decreasing the rate of return would have on the amount of money in the account? (refer to your calculation in question 1)
- 3) Instead of starting early and investing for 30 years assume that $10,000 is invested at the end of each year for 5 years (total of 5 investments, 8% annual return, compounded annually). How much money would be in the account in 5 years (the end of Year 5)? You must include the calculation in order to receive credit.
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