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(Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually
invested the $200,000 he earned providing Mr. Burns entertainment 9 years ago at 11 percent
annual interest and that he starts investing an additional $1,800 a year today and at the beginning
of each year for 10 years at the same 11 percent annual rate. How much money will Homer have
10 years from today? The amount of money Homer will have 10 years from now is $. (Round to
the nearest cent.)

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Related to Checkpoint 61 Future value of an annuity Ima.pdf

  • 1. (Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $200,000 he earned providing Mr. Burns entertainment 9 years ago at 11 percent annual interest and that he starts investing an additional $1,800 a year today and at the beginning of each year for 10 years at the same 11 percent annual rate. How much money will Homer have 10 years from today? The amount of money Homer will have 10 years from now is $. (Round to the nearest cent.)