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I have a brother who is a very careful saver. He has been like that since he was very young. You know the sort: he would charge me a rental for reading his copy of The Beano. His wife recently told me that he had put away $10 per month from recycling drink tins for forty years at 3% compounded annually. How much does the crafty fellow have saved up? One decimal place.

I have a brother who is a very careful saver. He has been like that since he was very young. You know the sort: he would charge me a rental for reading his copy of The Beano. His wife recently told me that he had put away $10 per month from recycling drink tins for forty years at 3% compounded annually. How much does the crafty fellow have saved up? One decimal place.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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I have a brother who is a very careful saver. He has been like that since he was very young. You know the sort: he would charge me a rental for reading his copy of The Beano. His wife recently told me that he had put away $10 per month from recycling drink tins for forty years at 3% compounded annually. How much does the crafty fellow have saved up? One decimal place.
Transcribed Image Text:I have a brother who is a very careful saver. He has been like that since he was very young. You know the sort: he would charge me a rental for reading his copy of The Beano. His wife recently told me that he had put away $10 per month from recycling drink tins for forty years at 3% compounded annually. How much does the crafty fellow have saved up? One decimal place.
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