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13. At age 25 you set up an IRA with an annual interest rate of 5%. At the end of each month you deposit $75

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13. At age 25 you set up an IRA with an annual interest rate of 5%. At the end of each month you deposit $75 in the account. How much will the account contain when you retire at 65 years of age? 12. What would your monthly deposit need to be so that at the end of 15 years you will have a sum of $50,000 given the bank is currently offering an interest rate of 7% per year

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