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An executive prepares for retirement by depositing $ 4 0 0 0 into an annuity each year for 1 5 years. The annuity earns 6

An executive prepares for retirement by depositing $

4000

into an annuity each year for

15

years. The annuity earns

6.2 %

per year. Find the future value of the annuity at the end of

15

years.

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