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You have just made your first $3,000 contribution to your retirement account. Assume you earn a return of 1 percent and make no additional contributions.

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You have just made your first $3,000 contribution to your retirement account. Assume you earn a return of 1 percent and make no additional contributions. a. What will your account be worth when you retire in 25 years? b. What will your account be worth if you wait 10 years before contributing

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