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You have just made your first $4,000 contribution to your retirement account. You plan to make these contributions at the start of each year for
You have just made your first $4,000 contribution to your retirement account. You plan to make these contributions at the start of each year for the next 45 years. Assume you earn an 11 percent rate of return a. What will your account be worth when you retire in 45 years? b. What if you wait 10 years before contributing? c. Does this suggest an investment strategy?
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