Self-employed persons can make contributions for their retirement into a special tax-deferred account called a Keogh account.
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Self-employed persons can make contributions for their retirement into a special tax-deferred account called a Keogh account. Suppose you are able to contribute \(\$ 20,000\) into this account at the end of each year. How much will you have at the end of 20 years if the account pays \(2 \%\) annual interest?
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