Starting on her 35th birthday, Melanie plans to start saving for her retirement. She will...
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Starting on her 35th birthday, Melanie plans to start saving for her retirement. She will contribute $7,500 to a brokerage account each year on her birthday, starting today. Her 30th and final contribution will take place on her 64th birthday. Melanie currently has $10,000 in her savings account that will jump start her retirement savings. If the account has an expected annual return of 8%, how much will Melanie expect to have in her account on her 65th birthday?
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