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You want to put down some money once a year for 30 years to a savings account as a raining day fund. Starting a year from now, you will put down the first saving: $5000, and the amount will grow at 3% every year after that. The savings account wit Bank of Ame ca offers yo D03% annual interes ae. you want now. How much is your rainy day fund worth in today's dollars? (2) How much will you accumulate in your rainy day fund after 30 years?

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Financial Management, Finance

Category:- Financial Management
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