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Suppose you work at Barclay's Investment Company and your client is 40 yrs. of age and want to begin saving for retirement. You as a

Suppose you work at Barclay's Investment Company and your client is 40 yrs. of age and want to begin saving for retirement. You as a portfolio manager advise client to put $5000 a year into the stock market. You estimate that the market's return will be on average 12% a year.

(i) If your client follows the advice how much money will she be having at the age of 45.

(i) How much she will have by 70?

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