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When Joe graduated from college at age 2 2 , his grandparents established a trust fund and endowed it with $ 1 0 , 0

When Joe graduated from college at age 22, his grandparents established a trust fund and endowed it with $10,000. The gift is intended to serve as a retirement fund for Joe, and he will be able to draw on it when he turns 62. If the fund earns a nine percent return over that period, what will it be worth when Joe reaches age 62?

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