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You begin saving for your retirement by investing $600 per month in an annuity with a guaranteed interest rate of 7% per year. You increase

You begin saving for your retirement by investing $600 per month in an annuity with a guaranteed interest rate of 7% per year. You increase the amount you invest at the rate of 3% per year. With continuous investment and compounding, how much will you have accumulated in the annuity by the time you retire in 42 years? (Round your answer to the nearest cent.)

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