Today is Dave?s 40th birthday. He is experiencing a midlife crisis and is thinking about retirement for the first time. To supplement his expected retirement pension, he deposits $8,000 in an investment account guaranteed to return him 6% interest annually.
a. What balance will he have in this account on his 65th birthday?
b. How much interest will he earn between now and then?
This question was answered on: Jul 11, 2017
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