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Sally makes deposits into a retirement account every year from the age of 30 until she retires at age 65. a) If Sally deposits $1150
Sally makes deposits into a retirement account every year from the age of 30 until she retires at age 65.
a) If Sally deposits $1150 per year and the account earns interest at a rate of 9% peryear, compoundedannually, how much does she have in the account when sheretires?
b) How much of that total amount is fromSally's deposits? How much isinterest?
(Round to the nearest cent asneeded.)
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