According to the future value calculation
Course:- Business Economics
Reference No.:- EM131385923

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According to the future value calculation: An individual and his wife wants to retire at 62 on his birthday. Greg just celebrated his 40th birthday. He has accumulated $76,000.00 in his 401(k) and his wife has accumulated $95,000.00 in her business. If the normal return to investors is 7.25%, how much money will they have on Greg’s 60th birthday?

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