Question: If you save $3500 a year into a 401(k) retirement plan for 30 years and earn an average rate of interest of 8% per year,

If you save $3500 a year into a 401(k) retirement plan for 30 years and earn an average rate of interest of 8% per year, how much will you have at the end of the 30th year? (Assume the first payment is made one year from today and the full $3500 is saved at the end of each period.)

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