Decided to begin investing for retirement

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Bill has decided to begin investing for retirement. He is going to put his tax raturn of $4,904 into the account today and then set up monthly contributions from his paycheck in the amount of $399. The money will go into an account that earns 9.8 percent annual interest (compounded monthly). How much will he have in the account after 23 years?

Reference no: EM131949712

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