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A 20 year old student wants to save $3 a day for her retirement

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Question;A 20 year old student wants to save $3 a day for her retirement. Everyday she places $3 in a drawer. At the end of each year, she invests the accumulated savings ($1,095) in a brokerage account with an expected annual return of 12%. If she keeps saving in this manner, how much will she have accumulated at age 67?

 

Paper#50551 | Written in 18-Jul-2015

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