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Jeff is trying to get serious about his long-term savings for retirement and has started an individual retirement account (IRA) with a principal lump sum

Jeff is trying to get serious about his long-term savings for retirement and has started an individual retirement account (IRA) with a principal lump sum of $1,440. He is planning on consistently depositing $215 into his IRA every three months and hopes to earn an average APR of 5% compounded quarterly. If Jeffs IRA performs as he is predicting,how muchwill he have in his account in 45 years?

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