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Charles is contributing 2% of his $38,500 salary to an employer-sponsored retirement plan. Calculate the future value of Charless first-year contribution, assuming that his account
Charles is contributing 2% of his $38,500 salary to an employer-sponsored retirement plan. Calculate the future value of Charless first-year contribution, assuming that his account will earn 11 percent per year until retirement in 40 years. (Round answer to 0 decimal places, e.g. 5,275.)
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