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You graduate from College at 21. For your retirement, you decideto invest into a Fidelity mutual fund that gives you a 7.5% APRcompounding monthly. After some years of work, you will retire andmove the investment into another Vanguard money market accountwhich gives you a 3% APR compounding monthly. During the years ofworking, you invest $350 every month. You plan to spend $4,500every month until you pass away. You estimate that you will passaway at 85 years old. When can you retire?
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