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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1314 |
Essay's paper body
If you do not withdraw the $60, then $1,060 will earn interest during the second
year. During the second year your principal of $1,060 will earn $63.60 interest; $60 on
the initial deposit of $1,000 and $3.60 on the $60 earned the first year. By the end of the
second year, you will have $1,123.60...
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By the end of the
second year, you will have $1,123.60. Compounded annually at 8 percent, cash doubles
itself in nine years. If a twenty-five-year old invests $2,000 each year which earns 8
percent a year, the retirement fund will grow to more than $425,000 by the time that
person reaches age sixty-five...
Essay fragment
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