Question: You are considering a retirement plan where you save 1 0 % of your annual income in a money market account that earns an interest

You are considering a retirement plan where you save 10% of your annual income in a money market account that earns an interest rate of 8% per year. If you deposit $8000 on January 1,2024 and the five years following, how much will you have saved after 6 years (December 31,2029)? To solve this problem, create a table like that on page 23 of the text. Check your work by using Excels FV function.

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