Apha wishes to invest $1,000,000 today in order to provide annual pension fund contributions of...
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Finance
Apha wishes to invest $1,000,000 today in order to provide annual pension fund contributions of $120,000 at the end of each year. Assuming an implicit rate of 10%, how many years until the investment is depleted?
Sue begins to invest $5,000 each year for 5 years starting on October 1, 2020. Sue wants to know how much will accumulate by October 1, 2027. She can earn 6% interest until October 1, 2025 and 8% thereafter.
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