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13) After learning about finances in grade 11, you decide to put money where your mouth is and at the end of every month invest

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13) After learning about finances in grade 11, you decide to put money where your mouth is and at the end of every month invest $100 into the stock market for the next 48 years (until you retire). Assuming the market returns 8% per annum, compounded monthly, how much will you have after 48 years? [3]

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