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You have just made your first $1,000 contribution to your retirement account. Assume you earn a return of 7 percent and make no additional contributions.

You have just made your first $1,000 contribution to your retirement account. Assume you earn a return of 7 percent and make no additional contributions.

What will your account be worth when you retire in 30 years? b. What will your account be worth if you wait 7 years before contributing?

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