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Suppose that you set aside a fixed percentage of your salary for a retirement fund, and...

Suppose that you set aside a fixed percentage of your salary for a retirement fund, and that your salary will increase by 2 percent annually. Thus, the amount set aside each year will increase by the same annual percentage. Assume that the amount set aside at the end of the first year is $5,000. The funds set aside accrue interest at 6 percent per year, compounded annually. What is the future value of the total amount set aside at the end of 40 years ($)?

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