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Patrick just got a new job, and he immediately set up a tax - deferred annuity to save for his retirement.He arranged to have $

Patrick just got a new job, and he immediately set up a tax

-

deferred annuity to save for his retirement.He arranged to have $

200

taken out of each of his monthly checks, which will earn

438 %

interest.Patrick just had his thirtieth birthday, and his ordinary annuity will come to term when he is sixty

-

five.Find the future value of the annuity. How much of the future value is interest?

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