You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into an account paying 12%, compounded annually. Assuming you are now 25 and can spare $1,100 per year, how much will you have when you retire at age 65? (Give your answer to the nearest cent.)

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A: To calculate the amount need to pay each month to repay the amount.

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A:

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