How much money will he have when he retires

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Matt Flynn contributes $25,000 per year to a retirement account. This particular account is expected to gain 9.5% interest each year. He plans to retire in 25 years, with the same contribution for each of these years. How much money will he have when he retires?

Now, repeat #5 assuming a 4% inflation rate yearly during this period. How has his purchasing power changed from the example without inflation accounted for?

Reference no: EM13925296

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