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How much will be able to withdraw in twenty years

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Reference no: EM132705991

Problem 1: Suppose you will deposit $16,000 per year in a bank account for 20 years and increase the annual deposit by 5% each year. How much will you be able to withdraw in 20 years if the discount rate is 12%? Assume the first deposit will be made at the beginning of the year

Reference no: EM132705991

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