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what is the value of your retirement plan after the 40 years?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 14E

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Assume that you contribute $330 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $530 per month for the next 25 years. Given a 9.0 percent interest rate, what is the value of your retirement plan after the 40 years?

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