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You have just made your first $4,000 contribution to your individual retirement account. Assume you earn a 10.90 percent rate of return and make no

You have just made your first $4,000 contribution to your individual retirement account. Assume you earn a 10.90 percent rate of return and make no additional contributions.

Requirement 1:

What will your account be worth when you retire in 42 years?

Requirement 2:

What if you wait 10 years before contributing?

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