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Mr. Rogers is saving for his retirement. He has decided that in one year's time he shall place 4% of his annual salary into an

Mr. Rogers is saving for his retirement. He has decided that in one year's time he shall place 4% of his annual salary into an account that pays 8% annually. His current annual salary is 50,000 dollars and shall grow at a constant rate of 5% per year. How much cash will Mr. Rogers have available for his retirement in 40 years?

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