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Problem $7-04$

You annually invest $$1,000$ in an individual retirement account $($IRA$)$ starting at the age of $30$ and make the contributions for $10$ years. Your twin sister does the same starting at age $45$ and makes the contributions for $15$ years. Both of you earn $7$ percent annually on your investment. What amounts will you and your sister have at age $60?$ Use Appendix A and Appendix $C$ to answer the question. Round your answers to the nearest dollar.

Amount on your account: $