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The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. ( Assume end - of -

The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. (Assume end-of-month deposits and withdrawals and monthly compounding, and
assume that the quoted rate of return continues indefinitely.)
For the past 25 years you have been depositing $500 per month in the PIMCO bond fund, and you have now transferred your current balance to the Vanguard bond fund, where you plan to continue
depositing $500 per month until you retire in 30 years. How much can you anticipate having in the investment when you retire? HINT [See Example 1.](Round your answer to the nearest cent.)
$
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