Mr. Chan saves $1,000 per year at the beginning of each year for 8 years,...
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Accounting
Mr. Chan saves $1,000 per year at the beginning of each year for 8 years, starting from today. The original payments earn 5% annual interest, but the interest received on the payments will be taken out and put into another account earning 3% annual interest. How much will Mr. Chan have at the end of 8 years?
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