What interest rate would he need to receive in order

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Joe has $5000 now to invest. He plans to add $1000 per year for the next 30 years with an expected average return of 8%.

a. How much will Joe have at the end of the 30 years?

b. All things held constant, what interest rate would he need to receive in order to have $200,000 in that account?

c. If his return was 9% how much would he have in his account in 30 years?

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Reference no: EM131966355

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