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Diego plans to invest $500 per month in their tax-free savings account for the next four years.  Currently, the investments Diego has chosen are earning an annual rate of 8%.  Approximately how much will Diego have in their tax-free savings account at the end of four years if the investment interest rate remains the same?   Question 2 options:   $28,175   $25,920   $245,066   $27,037

Diego plans to invest $500 per month in their tax-free savings account for the next four years.  Currently, the investments Diego has chosen are earning an annual rate of 8%.  Approximately how much will Diego have in their tax-free savings account at the end of four years if the investment interest rate remains the same?   Question 2 options:   $28,175   $25,920   $245,066   $27,037

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter2: Using Financial Statements And Budgets
Section: Chapter Questions
Problem 7FPE: Funding a retirement goal. Austin Miller wishes to have 800,000 in a retirement fund 20 years from...
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Diego plans to invest $500 per month in their tax-free savings account for the next four years.  Currently, the investments Diego has chosen are earning an annual rate of 8%.  Approximately how much will Diego have in their tax-free savings account at the end of four years if the investment interest rate remains the same?

 

Question 2 options:

 

$28,175
 

$25,920
 

$245,066
 

$27,037
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