numerical question How small savings can be big? Both Paul and Dave are 18 now...
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numerical question How small savings can be big? Both Paul and Dave are 18 now and plan to retire at 65. *Paul Dave *Buy 40 $5 lottery ticket a year *Buy a new car at $25,000 *Eat lunch at Cafeteria for $7 *Start depositing into 401(k) @30 Invest the $200 for 8% a year Buy a used car @$15,000, invest the $10,000 savings @8% Save $5 a day by bringing his own lunch Start depositing $5,000 now How many extra dollars Dave will have at age 65 from investing the $10000 savings at 8% interest rate if he buys a used car instead of a new one? Submit response
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