Question: You are 26 years old and decide to start saving for your retirement. You plan to save $ 5,500 at the end of each year

You are 26 years old and decide to start saving for your retirement. You plan to save $ 5,500 at the end of each year (so the first deposit will be one year from now), and will make the last deposit when you retire at age 70 . Suppose you earn 5% per year on your retirement savings.

a. How much will you have saved for retirement?

How much will you have saved for retirement? The amount that you will have accumulated for retirement is ?

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