You have just inherited $50,000 from your grandfather's estate, and you want to invest it in a

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You have just inherited $50,000 from your grandfather's estate, and you want to invest it in a retirement fund that pays an annual interest rate of 8%. You plan to retire in 20 years, and you want to know how much money you will have saved up by then. What will be the value of your retirement fund at the end of 20 years?