14 15 17 18 U Question 25 (4 points) You are planning for retirement...
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14 15 17 18 U Question 25 (4 points) You are planning for retirement 31 years from now. You plan to invest $5,300 per year for the first 7 years, $7,300 per year for the next 9 years, and $14,900 per year for the following 15 years (assume all cash flows occur at the end of each year). If you believe you will earn an effective annual rate of return of 9.4%, what will your retirement investment be worth 31 years from now? 20 21 2 23 24 $1,249,860.76 $77,148.00 $1,142,468.70 $84,399.91 S $561,062.50
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