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After graduating college, Jon finds a job and decides to start saving for retirement. He...

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Finance

After graduating college, Jon finds a job and decides to start saving for retirement. He deposits 1180 at the end of each month into a retirement account that pays 5.8% interest compounded monthly. After 5 years, he moves the investment to a mutual fund which pays 7.3% compounded monthly and increases his monthly deposit to 2000.

Find the amount Jon will have on deposit 5 years after that (10 years after graduation).

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