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You are planning to make monthly deposits of $500 into a retirement account that pays 9% compounded monthly. If your first deposit is a month
You are planning to make monthly deposits of $500 into a retirement account that pays 9% compounded monthly. If your first deposit is a month from now : a) how large will your retirement account be in 35 years? b ) how large will your retirement account be in 4 5 years?
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