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Starting at age 22, every night you take $5 out of your pocket and put it in a manila envelope (title it Lottery Winnings). At

Starting at age 22, every night you take $5 out of your pocket and put it in a manila envelope (title it Lottery Winnings). At the end of the year, you place the money from the envelope in a stock fund with an average interest rate of 10%.

How much will you have in the account when you retire at age 65?

What would be different if you started this plan later in your life?

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