Lifetime savings accounts

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Lifetime Savings Accounts, known as LSAs, allow people to invest after-tax money without being taxed on any of the gains. If an engineer invests $10,000 now and then increases his deposit by $1000 each year through year 20, how mu ch will be in the account immediately after the last deposit, if the account grows by 12% per year?

Reference no: EM131244238

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Lifetime savings accounts : Lifetime Savings Accounts, known as LSAs, allow people to invest after-tax money without being taxed on any of the gains. If an engineer invests $10,000 now and then increases his deposit by $1000 each year through year 20, how mu ch will be in the a..

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