Brief Exercise 6-5 Sally Medavoy will invest $6,060 a year for 20 years in a...
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Accounting
Brief Exercise 6-5
Sally Medavoy will invest $6,060 a year for 20 years in a fund that will earn 11% annual interest. If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If the first payment occurs at year-end, what amount will be in the fund in 20 years?
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