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Jane has already saved up $100,000 for retirement. She plans on investing $1,000 per quarter for 20 years until she reaches retirement (payments occur at
Jane has already saved up $100,000 for retirement. She plans on investing $1,000 per quarter for 20 years until she reaches retirement (payments occur at the end of the period). She estimates hell earn 8% annually (interest is compounded quarterly). If correct, what will Jane's balance be at retirement? Report your answer to the nearest penny.
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