Social security deposit by individual

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Reference no: EM132016547

In 2012 the maximum Social Security deposit by an individual was $8,386.75. Suppose you are 34 and make a deposit of this amount into an account at the end of each year. How much would you have (to the nearest dollar) when you retire if the account pays 4% compounded annually and you retire at age 65?

Reference no: EM132016547

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