Question: Your financial planner, Frank Vasil, CFP, advised you to start saving early in life for your retirement because of the power of compounding. He indicated

Your financial planner, Frank Vasil, CFP®, advised you to start saving early in life for your retirement because of the power of compounding. He indicated that if you were to invest $3,000 at the beginning of every year from your cash bonus that you could èpect an average retun of 12%, compounded monthly. If you were to retire in 30 years from now, how much would you have saved by then (approximately?

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