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Matt Flynn contributes $25,000 per year to a retirement account. This particular account is expected to gain 9.5% interest each year. He plans to retire

  1. Matt Flynn contributes $25,000 per year to a retirement account. This particular account is expected to gain 9.5% interest each year. He plans to retire in 25 years, with the same contribution for each of these years. How much money will he have when he retires?

  1. Now, repeat #5 assuming a 4% inflation rate yearly during this period. How has his purchasing power changed from the example without inflation accounted for?

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