Question: In the previous problem, suppose you make $6,000 annual deposits into the same retirement account. How large will your account balance be in 35 years?

In the previous problem, suppose you make $6,000 annual deposits into the same retirement account. How large will your account balance be in 35 years?

In the previous problem

You are to make monthly deposits of $500 into a retirement account that pays 10.3 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 35 years?

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