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You would like to retire in 30 years. On Jan. 1, 2009 you start saving for retirement by depositing $250 each month for the next
You would like to retire in 30 years. On Jan. 1, 2009 you start saving for retirement by depositing $250 each month for the next 10 years and then let it grow for the remaining 20 years with no additional deposits during the last 20 years. Your bank account pays 5% interest compounded monthly. How much money will you have for retirement on Jan. 1, 2039? The answer is: _________ (Input your number in whole numbers with NO $ signs, commas or periods. For example $49,895.54 would be input as 49896.)
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