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Joe expects to start working immediately after graduation and he is already planning to retire. He wants to retire in twentyfive years and hopes that

Joe expects to start working immediately after graduation and he is already planning to retire. He wants to retire in twentyfive years and hopes that he will be able to do so comfortably by investing$2,000 at the end of each year throughout this period. If he earns5% compoundedannually, how much will be in his retirement fund in twentyfive years?

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