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Financial Accounting Intro Concepts Meth/Uses

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 14E

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Question

You are considering the tax consequences
of investing $2,000 at the end of each year
for 30 years in a tax-sheltered retirement
account that will earn 9 percent annually.
How much will you accumulate over 30
years if the growth in the investment
remains sheltered from taxes?
Round to the nearest cent. DO NOT
INCLUDE COMMAS OR $.
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