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You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly. Note: Payments are made at the end of each period. Use
You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly. Note: Payments are made at the end of each period. Use this information for the questions below.
Use the Saving for Retirement information above to answer this question. If your monthly payments are $147, how much will you have in your retirement fund after 40 years? $______ . Round to the nearest dollar.
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