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Your financial planner, Frank Vasil, CFP ® , advised you to start saving early...
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Your financial planner, Frank Vasil, CFP® , advised you to start saving early in life for your retirement because of the power of compounding. He indicated that if you were to invest $3,200 at the of every year from your cash bonus that you could expect an average return of 11%, compounded monthly. If you were to retire in 30 years from now, how much would you have saved by then (approximately)?
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