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A friend of yours has waited until their 40th birthday to decide to save for retirement. You tell them that it is a good idea

A friend of yours has waited until their 40th birthday to decide to save for retirement. You tell them that it is a good idea to save now even if it would be better to start earlier. The friend plans to contribute $4,875 per year and earn 8% until they are 65. How much money will your friend have in their account at age 65?

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