Your client is 40 years old, and she wants to begin saving for retirement, with the first payment to come one year from now. She can save $7,500 per year, and you advise her to invest it in securities which you expect to provide an average annual return of 9 percent. If she follows your advice, how much money would she have at age 60?
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If she follows your advice, how much money will she have at 65?
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