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Years than if you increased your contributions

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You open an account that earns 12% interest and start saving $1,000 at the end of this year. You have the option increase your saving by 8% each year, or keep your contribution constant each year. If you do not increase your savings by 8%, how much less will you have in your account after 15 years than if you increased your contributions? Round your answer to the nearest dollar.

Reference no: EM132371634

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