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Practice Help! Thanks Cane has an investment account (Account #1) with a current balance of $178,000. Cane plans to contribute approximately $1,250 to the account

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Cane has an investment account (Account #1) with a current balance of $178,000. Cane plans to contribute approximately $1,250 to the account each month until he retires. The account has averaged a return of about 7.25% (APR), compounded monthly, and that is expected to continue. Cane also has an IRA (Account #2). It has a current balance of $42,800. He plans to contribute an additional $4,000 to that account each year until he retires. The IRA has averaged a return of about 5.00% annually, compounded annually, and this is also expected to continue. Cane plans to retire in about 25 years. (a) What will be the balance in Account #1 when Cane retires? (2 points) {b) What will be the balance in the IRA (Account #2) when Cane retires? (2 points) (eHow much will Cane have in total when he retires if he combines the balances of both accounts into one (1) account? (1 pointy

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