Julia will be setting aside 10% of her monthly paycheck for automatic investment in a stock mutual fund that pays dividends at 8% per year compounded annually. If the deposit is $1200 per month beginning 1 month from now, how much will she have after 27 years? Assume there is no interperiod compounding.

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To calculate how much Julia will have after 27 years if she sets aside 10 of her monthly paycheck w... View the full answer