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You decide to invest $3,000 a year in your 401(k) retirement account, which earns an 8 percent annually. After 35 years, how much money will
You decide to invest $3,000 a year in your 401(k) retirement account, which earns an 8 percent annually. After 35 years, how much money will you have in the account over and above the amounts you will contribute over the 35 years? (Hint: You will need future value of annuity table)
A. $105,000 | ||
B. $411,950 | ||
C. $468,000 | ||
D. $516,950 |
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