You have just made your first $5,000 contribu-tion to your retirement account. Assuming you earn a return

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You have just made your first $5,000 contribu-tion to your retirement account. Assuming you earn a return of 10 percent per yearand make no additional contributions, what will your account be worth when youretire in 45 years? What if you wait 10 years before contributing? (Does this suggestan investment strategy?)

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Fundamentals of Corporate Finance

ISBN: 978-0077861704

11th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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