John Lopez, a manager, will retire in 10 years. John invests $12,000 every year into a fund that promises to return 8% compounded annually. Compute the total amount that he will have at the end of 10 years. Use Tables 23-1A and 23-1B or a calculator.

Question

John Lopez, a manager, will retire in 10 years. John invests $12,000 every year into a fund that promises to return 8% compounded annually. Compute the total amount that he will have at the end of 10 years. Use Tables 23-1A and 23-1B or a calculator.​

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The Answer of John Lopez, a manager, will retire in 10 years. John invests $12,000 every year into a fund that promises to return 8% compounded annually. Compute the total amount that he will have at the end of 10 years. Use Tables 23-1A and 23-1B or a calculator.​

John Lopez, a Manager, Will Retire in 10 Years