(Solution) - Today is Dave s 40th birthday He is experiencing a midlife -(2025 Original AI-Free Solution)

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Today is Dave?s 40th birthday. He is experiencing a midlife crisis and is thinking about retirement for the first time. To supplement his expected retirement pension, he deposits $8,000 in an investment account guaranteed to return him 6% interest annually.
a. What balance will he have in this account on his 65th birthday?
b. How much interest will he earn between now and then?