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Previous Problem Problem List Next Problem Eugene began to save for his retirement at age...

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Accounting

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Previous Problem Problem List Next Problem Eugene began to save for his retirement at age 34, and for 11 years he put $ 225 per month into an ordinary annuity at an annual interest rate of 7% compounded monthly. After the 11 years, Eugene was unable to make the monthly contribution of $ 225, so he moved the money from the annuity into another account that earned 12% interest compounded monthly. He left the money in this account for 20 years until he was ready to retire. How much money did he have for retirement? Retirement amount =

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