You have a stock mutual fund in which you put $3,000 per year. How much will you accumulate in the account in 25 years if the interest rate is 10%?
What if instead you have $4,000 to deposit in the mutual fund earning 10%? If you add $2,000 to that account annually, how much will you have accumulated in 15 years? (Calculate the answer for each option. Show all work.)