ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
A company contributes $180 per month into a retirement fund paying 4.30% compounded monthly and employees are permitted to invest up to $2,400 per year into another retirement fund which pays 4.30% compounded annually. How large can the combined retirement fund be worth in 26 years?
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