awn invests $2000 each year of 10 consecutive years, starting at age 25. Assume an 8% annual rate of return with annual compounding. After age 35 she no longer adds to the account, but the money continues to compound. What was Dawn's out of pocket amount? How much will Dawn have accumulated by age 65?
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Dawn invests $2000 each year of 10 consecutive years, starting at age 25. Assume an 8% annual
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- Ginger Rogers deposits $3,000 a year into her retirement account. If these funds have an average earning of 8 percent over the 40 years until her retirement, what will be the value of her retirement account?Jill invested $1,000 each year into an account that earns 10% interest compounded annually to have an amount of $8,000 in net worth when she retires. The amount of time Jill can get this amount is how many years? (Solve it without using tables)Julie deposited some money in a savings account this morning. Her money will earn 5 percent interest, compounded annually. After five years, her savings account will be worth $5,000. Assume she will not make any withdrawals. How much did she deposit this morning?
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