Question: If you save $2400 a year into a 401(k) retirement plan (with deposits made in 12 equal monthly installments) for the next 20 years and

If you save $2400 a year into a 401(k) retirement plan (with deposits made in 12 equal monthly installments) for the next 20 years and earn an average rate of interest of 9% per year, how much will you have at the end of the 20th year? (Assume the first payment is made one month from today and exactly $200 is saved at the end of each month.)

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