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you can begin taking steps to prepare for retirement right now. lets say you have a tight budget that does not allow a maximum contribution

you can begin taking steps to prepare for retirement right now. lets say you have a tight budget that does not allow a maximum contribution to a defined contribution plan, but you can save $7,290 per year into a plan. how much will you accumulate by age 55 if you start saving at age 25 and can earn a 9% annualized rate of return on your investments? how much will the account be worth if you continue conteibuting until you reach age 65? Investing $7,290 per year for 30 years at 9% will result in $____. Investing $7,290 per year for 40 years at 9% will result in $____.

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