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8. Mr. Rodriguez has been saving 12% of his salary of $45,000 for retirement over the past 15 years. Initially, he planned to invest all
8. Mr. Rodriguez has been saving 12% of his salary of $45,000 for retirement over the past 15 years. Initially, he planned to invest all of his money in medium-risk stock mutual funds which have an annual, inflation-adjusted, return of 10%. First, how much money has he saved up so far (use monthly compounding and payments)?
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