C.10. Assume that at age 25 you have decided to become a millionaire by age 65. You decide to in- vest regularly at the

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C.10. Assume that at age 25 you have decided to become a millionaire by age 65. You decide to in- vest regularly at the

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C 10 Assume That At Age 25 You Have Decided To Become A Millionaire By Age 65 You Decide To In Vest Regularly At The 1
C 10 Assume That At Age 25 You Have Decided To Become A Millionaire By Age 65 You Decide To In Vest Regularly At The 1 (26.94 KiB) Viewed 16 times
C.10. Assume that at age 25 you have decided to become a millionaire by age 65. You decide to in- vest regularly at the end of every year for 40 years into a fund earning 12 percent interest. The initial investment deposit at EOY 1 will be relatively small, but you expect to increase the amount of each subsequent deposit by 8 percent every year thereafter. (a) Find the amount of the initial investment (deposit at EOY 1). (b) Find the amount of the final investment (deposit at EOY 40).
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