Question: Suppose that you save for retirement by contributing the same amount each month from your 2 3 rd birthday until your 6 5 th birthday,

Suppose that you save for retirement by contributing the same amount each month from your 23rd birthday until your 65th birthday, in a retirement account that pays a steady 3% annual interest compounded monthly. (Round your answers to the nearest cent.) How much will be in your fund at age 65 if you save $100 a month? How much will be in your fund if you get a steady return of 7.5% compounded monthly?

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