Question

Starting at age 20, you start saving for retirement early and put $2,600 yearly into your...

Starting at age 20, you start saving for retirement early and put $2,600 yearly into your retirement savings account throughout your 20s. However, when you turn 30, you stop contributing since you have bought a home and started a family and have no additional money left over to save for retirement.

If you receive an average annual return of 6 ​percent compounded annually, how much will you have in your retirement savings account by age 67​?

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