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(Saving for retirement-future value of an annuity) Selma and Patty Bouvier are twins and both work at the Springfield DMV Selma and Patty Blouvier decide

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(Saving for retirement-future value of an annuity) Selma and Patty Bouvier are twins and both work at the Springfield DMV Selma and Patty Blouvier decide to save for reterement, which is 35 years away Theyll both receive an annual return of 6 percent on their investment over the next 35 years $ Selma invests $1,000 per year at the end of each year only for the first 10 years of the 35 -year period-for a total of $16,000 saved Patty doesn't start saving for 10 years and then saves $1,600 per year at the end of each year for the remaining 25 years-for a total of $40,000 saved How much wil each of them have when they retire? a. How much will Selma have when she retires? s (Round to the nearest cent) b. How much will Patty have when she retures? 5 (Round to the nearest cent)

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