Determine the size of your investment account 30 years from now (when you plan to retire) if you deposit $12,000 each year, beginning 1 year from now, and the account earns interest at a rate of 10% per year.
What will be an ideal response?
F = 12,000(F/A,10%,30)
= 12,000(164.4940)
= $1,973,928
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