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Scenario 1 Assume you will retire at 6 7 . You decide to open a retirement account that earns 8 % interest. You will put

Scenario

1

Assume you will retire at

67 .

You decide to open

a retirement account that earns

8 %

interest.

You will put $

125

per month into this account

starting now

(

at age

41) .

How much money will

you have in this account when you retire?

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