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A Friend of Yours Plans to Begin Saving for Retirement

question 69

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A friend of yours plans to begin saving for retirement by depositing $2,000 at the end of each year for the next 25 years. If she can earn 10% annually on her investment, how much will she have accumulated at the end of 25 years?


Definitions:

Tour Group

A group of individuals organized for the purpose of traveling together, usually with a guide or planned itinerary.

Transact Business Electronically

The conduct of business activities through electronic means, such as the Internet or other digital platforms, rather than through physical exchanges or face-to-face.

Business Card

A small card printed with one's name, professional occupation, company position, business address, and other contact information.

E-mail Address

A unique identifier for sending and receiving electronic messages over the internet.

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