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5.24 You are to make monthly deposits of $500 into a retirement account that pays 10.3 percent interest compounded monthly. If your first deposit will

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5.24 You are to make monthly deposits of $500 into a retirement account that pays 10.3 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 35 years? 5.25 In the previous problem, suppose you make $6,000 annual deposits into the same retirement account. How large will your account balance be in 35 years

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