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Potvin Potvin
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7 years ago
Joan is diligent and, starting on her 19th Birthday, she deposits $1,000 in a bank account that pays an interest rate of 10%. She continues to save for six more years culminating on her 25th birthday. After that birthday she stops saving but leaves her accumulated savings in a bank account for 40 years (to age 65). Roseanne is a partier and doesn't start saving until her 26th birthday, at which time she starts saving $1,000 a year until her 65th birthday. (Assume that Roseanne also earns a rate of 10%.) Who has more at age 65?
A) Roseanne
B) Joan
C) They will have the same amount of money.
Textbook 
Corporate Finance Online

Corporate Finance Online


Edition: 1st
Authors:
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BlimpBlimp
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7 years ago
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Pol. Sci. Major
Minoring in Business
Columbia University Sophomore

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Potvin Author
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#2
7 years ago
Smiling Face with Open Mouth wow
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