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QUESTION

Starting today, Alicia is going to contribute $100 a month to her retirement account. Her employer matches her contribution by 50 percent.

1. Starting today, Alicia is going to contribute $100 a month to her retirement account. Her employer matches her contribution by 50 percent. If these contributions remain constant, and she earns a monthly rate of 0.55 percent, how much will her savings be worth 40 years from now?

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