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You have just made your first $ 4 , 0 0 0 contribution to your individual retirement account. Assume you earn an annual return of

You have just made your first $4,000 contribution to your individual retirement account. Assume you earn an annual return of 11.2 percent and make no additional contributions. A: What will your account be worth when you retire in 41 years? B: What if you wait 10 years before contributing?

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