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Selma and Patti Bouvier are twins, and both work at the Woodbridge DMV. They decide to save for retirement, which is 35 years away. They'll
Selma and Patti Bouvier are twins, and both work at the Woodbridge DMV. They decide to save for retirement, which is 35 years away. They'll both receive an 8 percent annual return on their investment over the next 35 years. Selma invests $2,000 per year at the end of each year only for the first 10 years of the 35 year period for a total of $20,000 saved. Patti doesn't start saving for 10 years and then saves $2,000 per year at the end of each year for the remaining 25 years - for a total of $50,000 saved. How much will each of them have when they retire? Assume this is a tax-deferred investment
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