Asked by Darlene
                In 2012 the maximum Social Security deposit by an individual was $8,386.75. Suppose you are 33 and make a deposit of this amount into an account at the end of each year. How much would you have (to the nearest dollar) when you retire if the account pays 2% compounded annually and you retire at age 65?
            
            
        Answers
                    Answered by
            mathhelper
            
    Amount = 8386.75( 1.02^32 - 1)/.02
= ....
    
= ....
                    Answered by
            Darlene
            
    Thank you!
    
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