If you invest $1,000 today at an interest rate of 10% per year, how much will...

 

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If you invest $1,000 today at an interest rate of 10% per year, how much will you have 20 years from now, assuming no withdrawals in the interim? 2. a. If you invest $100 every year for the next 20 years starting one year from today and you earn interest of 10% per year, how much will you have at the end of the 20 years? b. How much must you invest each year if you want to have $50,000 at the end of the 20 years? If you invest $1,000 today at an interest rate of 10% per year, how much will you have 20 years from now, assuming no withdrawals in the interim? 2. a. If you invest $100 every year for the next 20 years starting one year from today and you earn interest of 10% per year, how much will you have at the end of the 20 years? b. How much must you invest each year if you want to have $50,000 at the end of the 20 years?

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This question is dealing with the concept of compound interest and the future value of an annuity Le... View the full answer