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Michael just graduated from college and has his first job. Assume that he deposits $600 at the end of each?

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year for 10 years into an investment account earning 7%. He then stops making deposits and uses the money instead for house and car payments. How much will be in the investment account at the end of the 10-year period?

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  1. What's Michael going to do in those ten years?  Not make a house or car payment?

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