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You plan to set aside some of your annual bonus as a way to save for retirement, 50 years from now. Your first annual deposit
You plan to set aside some of your annual bonus as a way to save for retirement, 50 years from now. Your first annual deposit of $4,500 will happen one year from now. You decide to invest your money into a savings account that pays 9 percent per year. How much money will you have at retirement if you do not make any more payments, nor take out any money before retirement?
A) $5,551,026
B) $5,511,026
C) $5,111,026
D) $5,155,026
E) None of the above answers are within $10,000 of the correct answer.
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