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Sam is aggressively saving for retirement. He is 25 years old, and is saving $10,000 every year. Assuming he keeps this up for 20 years,
Sam is aggressively saving for retirement. He is 25 years old, and is saving $10,000 every year. Assuming he keeps this up for 20 years, and then stops saving, how much will he have when he turns 65 years old and is ready to retire? Assume that Sam is able to earn 9% per year on average by investing his retirement savings in a stock index fund. O Approximately $0.5 million Approximately $1.2 million O Approximately $2.2 million Approximately $2.9 million
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