If you deposit $1,200 in your retirement account in your first year of work, how much will
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If you deposit $1,200 in your retirement account in your first year of work, how much will that $1,200 be worth after 5, 10, 20, 30, 40, and 50 years at an 8% interest rate? Graph your results. What do you notice? It may be easiest to use a spreadsheet to make the calculations.
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