Lucy Price has always been interested in stocks. She has decided to invest $2,000 once...
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Lucy Price has always been interested in stocks. She has decided to invest $2,000 once every year into an equity mutual fund that is expected to produce a return of 6 percent a year for the foreseeable future. Lucy is really curious how much money she can reasonably expect her investment to be worth in 23 years. What would you tell her? Round FVA-factor to four decimal places. Round the answer to the nearest cent.
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