You are considering an investment by depositing $25,000 to an
account today and making monthly contributions of $300 into the
account for 10 years. If you want to have $100,000 in the account
after 10 years, what annual interest rate must you earn from the
account?
If you go ahead with the investment and decide to increase the
monthly contribution to $400 after 5 years (deposit $25,000 today,
$300 monthly for the first 5 years), how much will you have in the
account at the end of 10 years.
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