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c) Upon graduating from university 20 years ago, Dr Nick Riviera was already planning his retirement. Since then, he has made $10,000 deposits into a
c) Upon graduating from university 20 years ago, Dr Nick Riviera was already
planning his retirement. Since then, he has made $10,000 deposits into a
superannuation fund annually. Nick has just completed his final payment
and is finally ready to retire. His superannuation fund has earned 9%
interest per year compounded annually. (Ignore tax.) How much has Nick
accumulated in his superannuation fund?
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