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You are age 25, and have now settled into you first job. You desire to retire at age 60, and know that you can invest
You are age 25, and have now settled into you first job. You desire to retire at age 60, and know that you can invest $8,750 each year. You have decided to use this as your primary retirement vehicle. At the end of the year, you invest $8,750, and $8,750 per year thereafter until age 60, and realize the average return on the stock market of 11% per year. How much do you have at age 60? a. $1,595,236.91 b. $2,565,500.25 c. $2,988,908.60 d. $3,575,995.45 e. $4,085,023.75
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