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Joe's starting salary is $80,000 per year. He plans to put 12% of his salary each...

Joe's starting salary is $80,000 per year. He plans to put 12% of his salary each year into a mutual fund. He expects his salary to increase by 5% per year for the next 30 years, and then retire. If the mutual fund will average 7% annually over the course of his career, how much money will he have to retire on?

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