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Johnny Tiger will invest $8,000 a year for 20 years in a fund that will...

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Accounting

Johnny Tiger will invest $8,000 a year for 20 years in a fund that will earn 6% annual interest.

a) If the first payment into the fund occurs today, what amount will be in the fund in 20 years?

b) What if Johnny makes the annual contribution at the end of the year, what amount will be in the fund in 20 years?

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