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Today is end of year 2022. Waldo expects to save the following amounts at the...

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Finance

Today is end of year 2022. Waldo expects to save the following amounts at the end of each year: Year 2023 = $50,000; Year 2024 = $28,000; Year 2025 = $22,000; Year 2026 = $55,000 If he can earn an average annual return of 5 percent with annual compounding, how much will he have saved in this account when he retires at the end of year 2062 ?

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