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1 . Barry is 3 5 years old and plans to retire at age 6 5 . He calculates that he cancontribute $ 3 0

1 .

Barry is

35

years old and plans to retire at age

65 .

He calculates that he cancontribute $

300

per month at the end of the month to his savings plan. IfBarry can earn an

8

percent return, compounded monthly, on hisinvestment, how much will he have at retirement? How much of this isinterest

?

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