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Isaiah is in his 50s and currently does not have a retirement fund. However, he recently read a few articles about the insufficient savings of
Isaiah is in his 50s and currently does not have a retirement fund. However, he recently read a
few articles about the insufficient savings of people in retirement and, as a result, he decides he wants to start now. He saves $500 per month for 15 years and earns an annual return of 7% by investing in the stock market* through an index fund.
- What is the total balance in the account after 15 years?
- How much of the total did Isaiah contribute to himself?
- How much money did Isaiah make through compounded returns in this investment account?
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