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------------ ALL ANSWERS MUST BE ENTERED AS A FORMULA ----------- Assume that you contribute $330 per month to a retirement plan for 15 years. Then

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------------ ALL ANSWERS MUST BE ENTERED AS A FORMULA -----------

Assume that you contribute $330 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $530 per month for the next 25 years. Given an 8 percent interest rate. What is the value of your retirement plan after the 40 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) $ Initial monthly contribution Number of years Subsequent monthly contribution Number of years 330 15 530 $ 25 Interest rate earned 8.00% Complete the following analysis. Do not hard code values in your calculations. Value at end of first set of contributions Value at end of second set of contributions

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