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How much will Sally expect to have in her account

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Question - Beginning on her 40 birthday, Sally plans to start saving for her retirement. She will contribute $10,000 to a brokerage account each year on her birthday, starting today. Her 25 and final contribution will take place on her 64 birthday. Sally currently has $50,000 in her savings account that will jump start her retirement savings. If the account has an expected annual return of 6%, how much will Sally expect to have in her account on her 65 birthday?

Reference no: EM133049544

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