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August 4, 2015

Homework Help: math

Posted by ms guzman on Wednesday, September 22, 2010 at 1:48pm.

Djer invests $5000 each year into a mutual fund earning 6.15% compounded annually. After 8 years he stops making payments, but leaves the funds invested for an additional 4 years.

a) What is the value of the fund at the end of 8 years? $

b) What is the value of the fund after an additional 4 years? $

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