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In one year your wealthy younger sister will begin depositing $5,000 each year into a savings account for your retirement. The account will compound interest

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In one year your wealthy younger sister will begin depositing $5,000 each year into a savings account for your retirement. The account will compound interest at 5 percent annually and you can't withdraw any money from the account until you retire in 40 years. Which of the following statements is correct? Multiple Choice The account's value at retirement is $603,998.87 The future value of the account is equal to $5,000 * (1 + 0.05)40 = $35,199.94 X The total amount of interest you will earn will equal $5,000

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