Suppose that immediately after graduation you invested $3,000 each year for 15 years and nothing thereafter.You earn 10% on this money.Which of the following is closest to the amount of money you would you have on deposit when you retired in 40 years (25 years after the deposits stopped) ?
A) $47,812
B) $523,482
C) $834,295
D) $1,032,736
Correct Answer:
Verified
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