The money compounds at a simple

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Reference no: EM131102101

If you save $1,200 per year and the money compounds at a simple 8.0% rate how much money will you have in 20 years? What lump sum could you invest today to have the same amount in 20 years? If you save $100 per month at the same 8.0% rate how much money will you have in 20 years? What is the amount in 20 years if the 8.0% is compounded monthly?

Reference no: EM131102101

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