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    Personal Finance Study Set 14
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    Exam 3: Understanding and Appreciating the Time Value of Money
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    You Invest $1,000 at Age 20 at an Annual Rate
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You Invest $1,000 at Age 20 at an Annual Rate

Question 36

Question 36

Multiple Choice

You invest $1,000 at age 20 at an annual rate of return of 12%.By the time you are 62 you will have amassed approximately


A) $47,040.
B) $67,214.
C) $116,723.
D) $504,000.

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