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You are saving for retirement. You will make 31 annual payments into your retirement account. The first payment of $6,245 will be made 1 year

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You are saving for retirement. You will make 31 annual payments into your retirement account. The first payment of $6,245 will be made 1 year from today. The payments are expected to increase by 2.4% per year. You have a required rate of return of 7.5% compounded annually. How much money will be in the account in 31 years? Your answer should be accurate to two decimal places

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