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To save for retirement, you decide to deposit $2,000 into an IRA at the end of each year for the next 30 years. If the

To save for retirement, you decide to deposit $2,000 into an IRA at the end of each year for the next

30 years. If the interest rate is 8% per year compounded annually, find the value of the IRA after 30

years. (Round to the nearest dollar.) The answer is $226,575. How did you get the answer?

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