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You are earning an average of $45,500 and will retire in 12 years. If you put 25% of your gross average income in an ordinary

You are earning an average of $45,500 and will retire in 12 years. If you put 25% of your gross average income in an ordinary annuity compounded at 6% annually, what will be the value of the annuity when you retire? (Do not round intermediate calculations. Round your answer to the nearest cent.) Annuity value?

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