1a. In 1895, the winner of a competition was paid $110. In 2006, the winner's prize was $70,000. What will the winner's prize be in 2040 if the prize continues increasing at the same rate?
1a. In 1895, the winner of a competition was paid $110. In 2006, the winner's prize was
$70,000. What will the winner's prize be in 2040 if the prize continues increasing at the same
rate?
1b. You have just made a $1,500 contribution to your individual retirement account. Assume
you earn a 12 percent
your account be worth when you retire in 25 years than it would be if you waited another 10
years before making this contribution?
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1b. You have just made a $1,500 contribution to your individual retirement account. Assume you earn a 12 percent
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