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Today is Almo's 20th birthday and he has just received a large amount of money to sign a contract ...

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Today is Almo's 20th birthday and he has just received a large amount of money to sign a contract ...

Today is Almo's 20^th birthday and he has just received a large amount of money to sign a contract with a professional hockey team. He wants to put away enough money to make sure that on his 50^th birthday he will have $2,500,000. For the next ten years he is confident that his investments will earn 15% compounded annually and after that, 10% compounded annually. To the nearest dollar, how much must he invest today?

▸ $761,545

▸ $299,419

▸ $117,674

▸ $99,278

▸ $91,856

Textbook

Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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mattloftergener

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More solutions for this book are available here

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cyberk Author

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Just got PERFECT on my quiz

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Smart ... Thanks!

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