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Suppose an annuity pays 12% annual interest. To save for retirement, you invest in this annuity, contributing $450 every month for 10 years. What is
Suppose an annuity pays 12%
annual interest. To save for retirement, you invest in this annuity, contributing $450
every month for 10
years. What is the balance in this account after 10
years?
Round your answer to the nearest hundred dollars.
Do NOT round until you have calculated the final answer.
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