Approved retirement account at your local brokerage firm

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Reference no: EM131186347

You decide to open an IRS approved retirement account at your local brokerage firm. Your best estimate is that it will earn 9%. At the end of each year for the next 28 years, you will deposit $4,900 per year into the account (28 total deposits). Three years after the last deposit, you will begin making annual withdrawals. How much money is in the account one year before the first withdrawal? $

Reference no: EM131186347

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