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Thunder Mountain Concrete and Building Materials is trying to bring the company-funded portion of its employee retirement fund into compliance with HB-301. The company has already deposited $200,000 in each of the last 5 years. If the company increases its deposits (beginning in year 6) by 15% per year through year 20, how much will be in the fund immediately after the last deposit, if the fund grows at a rate of 12% per year?

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Thunder Mountain Concrete and Building Materials is trying to bring the company-funded portion of its employee retirement fund into compliance with HB-301. The company has already deposited $200,000 in each of the last 5 years. If the company increases its deposits (beginning in year 6) by 15% per year through year 20, how much will ...

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