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You are 25 today. Your uncle gives you $7,649.82 today as long as you promise to save $2,000 at the end of every year (starting
You are 25 today. Your uncle gives you $7,649.82 today as long as you promise to save $2,000 at the end of every year (starting one year from now) for a total of 15 years. How much money will be in your investment account when you turn 65? Assume an annual interest rate of 5% and annual compounding. (8 Points)
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