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3. Starting at age 25 , Markus invests $2000 at the beginning of each year in an IRA (individual retirement account) with an APR of

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3. Starting at age 25 , Markus invests $2000 at the beginning of each year in an IRA (individual retirement account) with an APR of 7.5% compounded annually. How much money will there be in Markus's retirement account when he retires at the age of 65 ? (Assume that his 40 th and last deposit generates interest for one year.)

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